US Fed holds interest rates on Iran war inflation bump (opens original article in a new tab)

The US Federal Reserve kept interest rates unchanged amid rising inflation linked to the Iran war, with updated forecasts indicating higher rates and inflation this year. The new chair, Kevin Warsh, faces scrutiny over his policy approach and communication strategy.

• US Fed holds interest rates steady at 3.50-3.75% for fourth consecutive time
• Inflation rises to 4.2% annual rate due to Iran war-related energy costs
• Fed updates forecasts to expect 3.8% federal funds rate and 3.6% inflation this year
• New Fed chair Kevin Warsh faces questions over communication strategy and balance sheet reforms
• UAE Central Bank also holds base rate steady at 3.65%