The Fed holds rates steady at 3.5% as new Chair Warsh defies Trump and defends independenceExecutive summary: The Federal Reserve kept interest rates unchanged at 3.5% in its first meeting chaired by Kevin Warsh. The decision signals a commitment to independence and a cautious stance on inflation despite political pressure. Federal Reserve, Chairman Kevin Warsh, former President Donald Trump Future policy will be guided by inflation trends, with markets watching for any shift toward tightening later in 2026.The Federal Reserve announced on Wednesday that it left the target range for the federal funds rate unchanged at 3.5%, marking the first policy decision under newly appointed Chair Kevin Warsh. The move was framed as a defense of the Fed’s independence amid political pressure from former President Donald Trump, who had criticized rate cuts. Warsh emphasized that inflation pressures remain and that any future adjustments will be data‑driven.Connected developmentsPersistently high inflation shapes Fed policyProjected 2026 rate hike contrasts with current policyHistorical Fed chair transitions and market reactionsLa Fed lascia i tassi invariati: voto unanime nella prima riunione di WarshHere’s how stocks performed under different Fed chairs — and how much influence Warsh really hasThe stock market is poised to go crazy if Warsh gives the green light, these strategists sayOpen the full case file on Beyond →
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