(3rd LD) Fed holds key interest rate steady; Warsh says inflation 'too high'

The U.S. Federal Reserve maintained its benchmark interest rate at the range of 3.75-4.00 percent during the two-day Federal Open Market Committee (FOMC) meeting, as inflation continues to be a significant concern. Fed Chair Kevin Warsh acknowledged that inflation is still too high but assured that the Fed's primary responsibility is to bring price stability back to the economy.

The Fed emphasized its intention to keep ample reserves in the banking system and hinted at a potential reduction in the number of FOMC meetings in 2027 and 2028. Warsh also expressed his keen interest in the South Korean economy, pointing out its pivotal role in the ongoing technology boom.