Federal Open Market Committee (FOMC)

Federal Reserve Holds Rates Steady, Citing Middle East Uncertainty and Inflation Risks

The Federal Reserve maintained interest rates at 3.5-3.75% citing upside inflation risks from rising global energy prices and Middle East uncertainty. Four of 12 FOMC members dissented—the highest since 1992—with Stephen Miran advocating for a cut while others objected to the policy statement's rate cut indication. Oil prices have climbed above $110/barrel from $70 before the US-Iran conflict began February 28.