Federal Reserve to Hold Interest Rates Despite Persistent Inflation

The Federal Reserve is expected to keep interest rates unchanged for now despite high inflation, which has been above their 2% target for over five years.

Federal Reserve policymakers are growing increasingly impatient with the persistent inflation issue. Chairman Kevin Warsh testified before the Senate Banking, Housing and Urban Affairs Committee on July 15, delivering the semiannual monetary policy report to Congress.

The Federal Reserve is expected to keep rates unchanged for now despite high prices, but policymakers are losing patience with inflation.