As widely expected, the U.S. Federal Reserve, led by Chair Kevin Warsh, left interest rates unchanged on Thursday. It was the fifth straight policy meeting at which policymakers opted to keep rates steady while awaiting greater clarity on the inflation outlook and the broader economic trajectory before making any changes to monetary policy.
The decision was announced following the conclusion of the Federal Reserve’s two-day Federal Open Market Committee (FOMC) meeting.
Fed officials have been in a holding pattern since cutting rates at each of the last three meetings in 2025. But, from January to June, their outlook for rates has seen a significant shift as the labor market stabilized and the downward trend in underlying inflation stalled.
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