Fed Holds Rates Steady Amid Trump Pressure

The Federal Reserve kept interest rates steady at 3.5% to 3.75%, despite President Donald Trump's calls for cuts and growing speculation of a rate hike.

In a split decision, three Fed officials dissented from the majority, favoring a quarter-point rate increase.

Federal Reserve Chairman Kevin Warsh said inflation remains elevated above the central bank's 2% goal and that the committee is committed to delivering price stability.

The ongoing war in Iran has added volatility to prices, while shifting tariff policy could complicate the inflation outlook.