Fed Holds Line on Interest Rates Amid Inflation Concerns

The Federal Reserve announced that interest rates will remain unchanged at 3.5%, 3.75% after a 9-3 vote by the Federal Open Market Committee (FOMC).

Fed Chair Kevin Warsh described the U.S. economy as showing 'impressive resilience,' but also warned of elevated inflation, indicating that the Fed is not ready to declare victory over rising prices.

During a high-stakes press conference in Washington, D.C., Warsh faced tough questions about the economy, inflation, and future rate hikes.