Fed Holds Rates Steady as Trump Calls for Cuts

The Federal Reserve held its benchmark interest rate steady at 3.5% to 3.75%, despite President Donald Trump's repeated calls for lower rates.

In a press conference following the Fed's Open Market Committee meeting, Chairman Kevin Warsh said the economy is showing 'impressive resilience' and that inflation remains elevated above the committee's 2% goal.

The decision was not unanimous, with three officials dissenting in favor of a quarter-point rate hike. This split has sparked speculation that the central bank could raise rates later this year.

Warsh reiterated that the Fed will deliver price stability and that its target remains unchanged at 2%. He also acknowledged the uncertainty caused by the ongoing war in Iran, which has added volatility to prices.