Watch live: Warsh speaks after Fed votes to keep interest rates steady
Federal Reserve Chair Kevin Warsh will speak to reporters Wednesday after the central bank voted to hold interest rates steady at 3.75 percent to 4 percent, despite persistent inflation and mounting economic pressures ahead of the midterm elections. The decision comes six weeks after the Fed raised rates by a quarter point, its first hike…
Federal Reserve Chair Kevin Warsh will speak to reporters Wednesday after the central bank voted to hold interest rates steady at 3.75 percent to 4 percent, despite persistent inflation and mounting economic pressures ahead of the midterm elections.
The decision comes six weeks after the Fed raised rates by a quarter point, its first hike in three years, in an effort to rein in stubborn inflation.
Annual inflation climbed to 3.7 percent in September, up from 3.4 percent in August, as price surges tied to President Trump’s war with Iran continue to strain Americans’ wallets.
Treasury yields also ticked higher Wednesday morning amid concerns over mounting government debt and rising oil prices .
The news conference is scheduled to begin at 2:30 p.m. EDT.
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