US Federal Reserve meet today: Kevin Warsh-led FOMC keeps interest rates unchanged
The Federal Open Market Committee (FOMC), led by Kevin Warsh, decided to keep the interest rate unchanged in the 3.5-3.75% range following its monetary policy review on July 28 and 29. This decision comes as inflation has remained above the US Federal Reserve's 2% target for over five years, indicating ongoing economic challenges. The FOMC aims to support its dual mandate while maintaining ample reserves in the banking system.