Fed holds key interest rate steady for 4th straight time under new Chair Warsh (opens original article in a new tab)

The U.S. Federal Reserve kept its benchmark interest rate unchanged for the fourth straight time under new Chair Kevin Warsh, as economic concerns persist over Middle East conflict and rising inflation.

• U.S. Federal Reserve held benchmark interest rate steady at 3.5-3.75 percent range for fourth consecutive time
• Fed's rate decision came amid concerns over economic impact of Middle East conflict and 4.2 percent annual CPI increase in May
• New Fed Chair Kevin Warsh emphasized commitment to price stability and maximum employment during swearing-in ceremony