Developing
Business·4/29/2026AI summary
Fed Holds Rates Steady Amid Iran War Inflation Surge, Powell's Potential Final Meeting
The Federal Reserve held interest rates steady at 3.5%-3.75% in what may be Chair Jerome Powell's final meeting before Kevin Warsh takes over. Inflation has surged since the Iran war began, limiting policymakers' room to act. Credit card rates remain near 20%, while mortgage rates hit 6.38% and auto loan payments reached a record $773 monthly.
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