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Fed holds US interest rates steady as uncertainty over Trump's Iran deal remains
Key takeaways
- Fed governors were split on whether to keep rates steady or increase them in a bid to tame inflation, which has been pushed up by the US-Israel war in Iran.
- US President Donald Trump pushed Warsh's predecessor, Jerome Powell, to cut interest rates, and made clear he expected Warsh to fulfill his demand for cuts.
- But, with inflation running at an above-target 3.8%, and uncertainty surrounding Trump's deal to end the war with Iran, the Fed's rate-setting committee unanimously decided to kept rates steady.
Why this matters: a developing story that could shape the day's news cycle.
Archie Mitchell Business reporter Getty Images Kevin Warsh announcing the Fed's interest rate decision The Federal Reserve held US interest rates between 3.5% and 3.75% after Kevin Warsh's first meeting in charge of the central bank.
Fed governors were split on whether to keep rates steady or increase them in a bid to tame inflation, which has been pushed up by the US-Israel war in Iran.
US President Donald Trump pushed Warsh's predecessor, Jerome Powell, to cut interest rates, and made clear he expected Warsh to fulfill his demand for cuts.
Article preview — originally published by BBC News. Full story at the source.
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