Fed holds rates steady in first decision under new Chairman Kevin Warsh (opens original article in a new tab)

The Federal Reserve maintained its benchmark interest rate at 3.50%-3.75% during the first meeting led by new Chair Kevin Warsh, with markets anticipating a possible rate hike rather than a cut.

• Federal Reserve kept benchmark fed funds rate at 3.50%-3.75%
• Kevin Warsh led first policy meeting as Fed chair following Senate confirmation
• Markets expect potential rate hike instead of cut due to persistent inflation and strong labor data