The Federal Reserve held interest rates steady Wednesday at Kevin Warsh’s first meeting as chair, as Americans struggle with an inflation surge that has pushed prices to their highest level in years.
It was the fourth-straight meeting in which the central bank left rates unchanged, despite pressure from President Donald Trump for cheaper borrowing costs. Trump has recently moderated his tone, saying after Warsh’s swearing-in that the new chair should “do whatever he wants,” though he cautioned against the need for rate hikes to dent rising inflation.
