BREAKING: Federal Reserve Chair Kevin Warsh announced that the U.S. central bank will keep interest rates unchanged at 3.5%–3.75% following a 9-3 vote by the Federal Open Market Committee (FOMC).
While describing the U.S. economy as showing "impressive resilience," Warsh also warned that inflation remains elevated, signaling that the Federal Reserve is not ready to declare victory over rising prices. During the high-stakes press conference in Washington, D.C., Warsh faced tough questions about the economy, inflation, future rate hikes, and whether the Fed may tighten monetary policy further if inflation refuses to cool.
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