(2nd LD) Fed holds key rate steady under new Chair Warsh; policymakers project rate increase this year (opens original article in a new tab)

The U.S. Federal Reserve kept its benchmark interest rate unchanged at 3.5-3.75% during its first decision under new Chair Kevin Warsh, with projections indicating potential rate increases later this year amid ongoing inflation concerns.

• U.S. Federal Reserve holds benchmark interest rate steady at 3.5-3.75% range
• At least half of FOMC policymakers project rate increase by year-end
• Fed chair Kevin Warsh emphasizes price stability and acknowledges persistent inflation above 2%