Fed Keeps Interest Rate Unchanged Amid High Inflation and Iran War Pressures

The Federal Reserve's key interest rate remains unchanged at around 3.6% despite persistently high inflation and energy prices driven by the Iran war.

In a 9-3 vote, the Fed's rate-setting committee decided not to raise rates, with three officials dissenting in favor of a quarter-point increase.

Fed Chair Kevin Warsh described the decision as 'a good family fight' and acknowledged that inflation has been above the central bank's 2% target for over five years.