‘Inflation remains elevated’: Fed holds rates steady; Kevin Warsh defends policy stance | FOMC meet

The Federal Reserve kept interest rates unchanged at 3.5%-3.75% following a 9-3 FOMC vote, with Chair Kevin Warsh saying inflation remains elevated and reaffirming the central bank's commitment to restoring price stability. Warsh defended the Fed's decision to hold rates steady despite growing calls for tighter policy, while three policymakers dissented in favor of a rate hike, highlighting divisions over the inflation outlook.

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