Watch live: Warsh speaks after Fed votes to keep interest rates steady — SkimNews
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- Federal Reserve voted to hold interest rates steady at 3.75% to 4%, even with persistent inflation and mounting economic pressures ahead of the midterm elections.
- Kevin Warsh, the Federal Reserve chair, will speak to reporters Wednesday following the central bank's decision.
- Federal Reserve's decision comes six weeks after the Fed raised rates, placing the hold weeks after a recent increase in the target range.
Why it matters: The target range of 3.75% to 4% left borrowing costs unchanged for households and businesses even as inflation stayed persistent, and the pause landed six weeks after the Fed raised rates — making Warsh's Wednesday remarks the central bank's first public accounting of that decision.
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