Federal Reserve expected to hold rates steady as inflation swirls
People walk by the New York Stock Exchange (NYSE) in New York City on July 23, 2026. (AFP photo)
The U.S. Federal Reserve is set to hold its second meeting under new chairman Kevin Warsh starting tommorow, with markets expecting policymakers to keep interest rates steady amid inflation concerns that could be exacerbated by U.S. President Donald Trump’s renewed war on Iran.
Warsh was chosen to lead the U.S. central bank by Trump, who has made his demand for lower interest rates clear as he has exerted unprecedented pressure on the independent monetary policy making body.
After two days of closed-door sessions, the Fed’s open market committee (FOMC) will announce its decision on July 29, followed by a press conference by Warsh.
