business
Fed Holds Interest Rates Unchanged In Kevin Warsh’s First Meeting—But Higher Rates Are Expected
Key takeaways
- Topline The Federal Reserve on Wednesday voted to hold interest rates within their current range, as central bank officials pointed to a hike sometime this year under newly appointed chair Kevin Warsh.
- In its latest statement, the Fed said economic activity was expanding at a “solid pace despite elevated uncertainty,” noting that job market growth has “kept pace with the workforce” while inflation remains elevated.
- Several analysts believe the Federal Reserve will withhold its “dot plot,” a graph outlining the central bank’s policymaking decisions, as Warsh has criticized the plot for limiting the Fed’s decision-making.
Topline The Federal Reserve on Wednesday voted to hold interest rates within their current range, as central bank officials pointed to a hike sometime this year under newly appointed chair Kevin Warsh.
Trump signaled he would allow his new Federal Reserve chair to “do what he wants to do.” Getty Images Key Facts The Federal Open Market Committee voted unanimously to hold interest rates between 3.5% and 3.75%, and nine of the panel’s 18 officials favored at least one interest rate hike this year.
The panel’s statement outlining its decision was pared down under Warsh: The 341-word decision following the central bank’s last meeting under former chair Jerome Powell in April was more than 60% longer than the 130-word note released under Warsh.
Article preview — originally published by Forbes. Full story at the source.
Read full story on Forbes →
More top stories
Also covered by
CoinDesk
Kevin Warsh's first Fed meeting could be more about communication than rates
Investing.com
Fed holds rates as expected in first decision under new chair Warsh
Financial Times
Federal Reserve holds first meeting of Kevin Warsh era
The Hill
Federal Reserve holds rates steady at Warsh’s first meeting
Aggregated and edited by the Scoop newsroom. We surface news from Forbes alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop