Fed Holds Key Rate Steady Amid Global Economic Uncertainty

The Federal Reserve held its key interest rate steady in a 9-3 decision, maintaining the benchmark at the 3.5-3.75 percent range for the fifth consecutive pause.

The decision came amid concerns over the economic impact of renewed fighting in the Iran war and US President Donald Trump's calls to lower borrowing costs.

Fed Chair Kevin Warsh reaffirmed the central bank's 2 percent inflation target, emphasizing that there is 'no soft inflation target' and highlighting the US economy's 'impressive resilience' despite recent shocks.