Fed Holds Steady as Trump Exerts Pressure

The US Federal Reserve's Open Market Committee (FOMC) met on Tuesday to discuss interest rates, with policymakers expected to hold steady amid concerns over inflation fueled by the Iran war.

The Fed's key rate-setting committee will announce its decision at 2:00 pm local time (1800 GMT) on Wednesday, following a press conference by Fed Chair Kevin Warsh.

Since taking office, Warsh has repeatedly stated that the Fed is committed to delivering price stability, and several policymakers have spoken out about the need to address surging inflation.

The Fed's dual mandate is to keep inflation at its long-term target of 2 percent while ensuring maximum employment in the world's largest economy.