Fed holds amid uncertainty over oil shock and tariffs
Powell pledges to stay on as interim chair if Warsh’s nomination is not confirmed in Senate
The US Federal Reserve has held rates, while pointing to heightened uncertainty to the economy from the conflict in the Middle East.
In a statement following a two-day meeting of the Federal Open Market Committee, the Fed announced today (March 18) that it was maintaining the target range for the Federal Funds rate at 3.5–3.75%. The FOMC reached the decision by 11 votes to one. The sole dissenter was Stephen Miran, who voted for a 25 basis point cut.
The Fed said job gains had remained low and the
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