Fed holds rates as Kevin Warsh closes in on confirmation
Summary
The Federal Reserve decided to keep interest rates the same during its recent meeting. Meanwhile, President Trump’s nominee to lead the Federal Reserve, Kevin Warsh, is getting closer to being officially approved.Key Facts
- The Federal Reserve chose not to change interest rates at its latest meeting.
- The interest rate range stayed between 3.5% and 3.75%.
- This meeting is likely the last one chaired by Jerome Powell.
- Kevin Warsh is President Trump’s nominee to lead the Federal Reserve.
- A Senate committee is reviewing Kevin Warsh’s nomination.
- The confirmation vote for Warsh is approaching soon.
- The Federal Open Market Committee (FOMC) is the group that sets interest rates.
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