The Fed announced that it will hold key interest rates at 3.50% – 3.75%.
The U.S. Federal Reserve left interest rates unchanged in Kevin Warsh’s first decision as the Fed chair on the back of elevated inflation and a strong job market.
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The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote.
The FOMC will also release its “dot plot” projections for interest rates as well as the collective outlook for inflation, unemployment and gross domestic product growth.
“Inflation remains elevated relative to the Committee’s 2 percent goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy,” as per the Fed’s monetary policy statement.
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