Fed Holds Rates At 3.50%-3.75%: Traders Brace For Chair Warsh's First Speech (UPDATED)

Editor’s note: This article was updated to add more detail and context. The Federal Reserve unanimously held the federal funds rate steady at 3.50%-3.75% on Wednesday, as widely expected, in the first policy meeting under new Fed Chair Kevin Warsh. The June statement again described inflation as “elevated” relatively to the 2% goal, in part because of the recent jump in global energy prices, and said the unemploymen…