US Federal Reserve Holds Rates Steady, Raises Inflation Expectations

The US Federal Reserve on Wednesday held interest rates steady as expected at Kevin Warsh’s first meeting in charge of the central bank, raising its year-end inflation expectations and projecting a rate hike by the end of 2026.

The Fed decided to hold rates steady at 3.50 to 3.75 per cent for the fourth consecutive meeting, with the vote being unanimous for the first time in a…