Fed Holds Rates Steady Amid White House Pressure for Cuts

The Federal Reserve held interest rates steady at 3.5% to 3.75%, defying White House calls for cuts and fueling speculation about potential future hikes.

In a split decision, three Fed officials dissented from the majority, advocating for a quarter-point rate hike.

Fed Chairman Kevin Warsh maintained that inflation remains elevated, citing it as a major concern, but also expressed confidence in the economy's resilience despite recent shocks.

President Donald Trump praised Warsh while criticizing the Fed board for not cutting rates, highlighting his own desire for lower interest rates.