The Fed held rates at 3.50-3.75 percent for the fifth straight meeting, with Kevin Warsh denying that he was reticent to take action against high prices.

The new head of the US central bank said he is committed to lowering inflation. Read more at straitstimes.com. Read more at straitstimes.com.

WASHINGTON: The US Federal Reserve held interest rates steady on Wednesday (Jul 29), with surging inflation fueled by President Donald Trump's war on Iran seeing three of the…

Investors had largely expected that the Fed would hold interest rates steady, given ongoing concerns with high inflation.

The US Federal Reserve kept interest rates unchanged, awaiting clearer inflation signals. Renewed fighting linked to Iran pressures oil prices and clouds economic outlook.…