US Federal Reserve holds rates steady under new chair Warsh (opens original article in a new tab)

The US Federal Reserve held interest rates steady at 3.5-3.75% amid elevated inflation, which reached a three-year high of 4.2% due to rising energy prices. The decision was unanimous during the first meeting under new chair Kevin Warsh, with expectations of potential rate hikes in the coming months.

• US inflation hits 4.2% three-year high due to energy prices
• Federal Reserve holds interest rates steady at 3.5-3.75%
• Fed's decision was unanimous under new chair Kevin Warsh
• CME FedWatch predicts 30% chance of rate hikes by September and over 50% by December