Topic
fomc
US Federal Reserve Holds Rates Steady as Kevin Warsh-Led FOMC Maintains 3.5-3.75% Range
The Federal Open Market Committee, led by Chair Kevin Warsh, voted to maintain the federal funds rate at 3.5-3.75% following its July 28-29 meeting. The decision reflects persistent inflation above the 2% target, geopolitical uncertainties from the Middle East conflict, and volatile oil prices. The Fed's statement noted solid economic expansion but highlighted supply shocks and tariff-related pressures.
Kevin Warsh-led FOMC Keeps Rates Unchanged, Projects Hike by Year-End, Raises Inflation Forecast
The Federal Reserve, under new chair Kevin Warsh, kept its benchmark interest rate unchanged in the 3.5% to 3.75% range. The Summary of Economic Projections showed 18 of 19 officials expect at least one rate increase by year-end, while the central bank raised its inflation forecast, projecting PCE inflation at 3.6% by end-2026. Inflation currently stands at 4.2%, a three-year high, driven by fuel costs.