The Federal Reserve on Wednesday held rates steady in Kevin Warsh’s first meeting as Fed Chairman. The Federal Open Market Committee (FOMC) voted unanimously to keep rates unchanged. The benchmark rate is currently 3.5% to 3.75%. Late last year the Federal Reserve lowered interest rates by 75 basis points – or 0.75%. CNBC reported: Kevin Warsh’s first meeting as Federal Reserve chairman concluded Wednesday with no change in interest rates, the removal of key language indicating a bias toward future cuts, and a dramatically shorter policy statement. The Federal Open Market Committee voted unanimously to keep its benchmark overnight borrowing rate anchored in a range of 3.5%-3.75%. The federal funds rate has held there since the central bank lowered rates by three-quarters of a percentage…
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