Fed Holds Rates Steady Amid White House Pressure

The Federal Reserve has decided to keep interest rates steady at 3.5% to 3.75%. This decision comes after a meeting of the Federal Open Market Committee, where policymakers made no changes to their monetary policy.

Despite calls from the White House for rate cuts, the Fed chose not to lower borrowing costs. The move has sparked debate among economists and investors about the potential impact on the economy.

The decision is a surprise to some, as many had expected the Fed to cut rates in response to slowing economic growth. However, the central bank's chair, Kevin Warsh, stated that they are 'keeping an eye' on inflation and are prepared to take action if necessary.