With a blunt “The Committee will deliver price stability,” the Federal Reserve announced that it will preserve the current benchmark rate in the range of 3.5% to 3.75%. Of course, this comes in the face of high inflation brought on primarily by the Iran War.
This also marks the first fed meeting under the direction of President Trump’s hand-picked selection, Kevin Warsh. Warsh also announced the formation of five task forces which will closely examine the Fed’s operations. Warsh had previously announced that he planned to bring “regime change” to the central bank.