Fed Holds Rates Steady Amid Inflation Worries

The Federal Reserve has left its benchmark interest rate unchanged at around 3.6% after a two-day meeting, marking the fifth consecutive meeting without a change.

The decision was made despite inflation remaining above its target and energy prices climbing in the wake of the Iran war.

Federal Reserve Chair Kevin Warsh said that he has 'no tolerance' for elevated inflation and emphasized that the Fed's implicit inflation target is 2%.

Warsh also expressed his appreciation for a 'good family fight,' referring to the 9-3 vote among policymakers, which included dissents from Beth Hammack, Neel Kashkari, and Lorie Logan.