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 unemployment rate had changed little.
“The Committee will deliver price stability,” the Fed stated.
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