(2nd LD) Fed holds key interest rate steady; Warsh says inflation 'too high'
WASHINGTON, Oct. 28 (Yonhap) -- The U.S. Federal Reserve on Wednesday held its b...
The U.S. Federal Reserve maintained its benchmark interest rate steady at 3.75-4.00 percent range during a two-day Federal Open Market Committee (FOMC) meeting, despite ongoing concerns about persistent inflation. Federal Reserve Chair Kevin Warsh expressed concern that inflation remained too high, emphasizing the central bank's responsibility to bring price stability.
The Fed's decision to keep the rate unchanged followed a quarter percentage point increase in interest rates last month, signaling possible further hikes in the coming months. Warsh stated that the Fed is continuing its policy of maintaining ample reserves in the banking system and will continue to monitor economic conditions to determine the appropriate policy stance.
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