WATCH LIVE: Fed chair Warsh holds briefing after latest interest rate decision
The Federal Reserve is expected to stand pat on interest rates Wednesday even though inflation has accelerated in the past couple of months as the Iran war has caused spikes in oil and gas prices.
Federal Reserve Chair Kevin Warsh is set to address inflation concerns during a news conference on Wednesday, even as the central bank maintains its current interest rates. Inflation has surged in recent months due to the Iran war and rising oil and gas prices. Warsh's briefing follows the Fed's rate decision in September, which was the first increase in three years.
Despite the hike, inflation remains above the Fed's 2% target. The Fed's actions could impact Americans, as higher rates make mortgages, auto loans, and credit card borrowing more expensive. Warsh's remarks at the press conference will be closely scrutinized for hints about the central bank's future rate decisions.
Written by urgent.news from PBS NewsHour's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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