Fed Holds Rates Steady Amid Inflation Concerns

The Federal Reserve kept interest rates unchanged at 3.5% to 3.75%, despite calls from the White House for cuts and growing talk of a rate hike.

Federal Reserve Chairman Kevin Warsh said the economy shows 'impressive resilience' but inflation remains elevated, running above the Fed's 2% goal.

Three Fed officials dissented, favoring a quarter-point rate hike, sparking speculation that the central bank could raise rates later in the year.