US Federal Reserve expected to hold rates steady as inflation swirls

WASHINGTON : The US Federal Reserve is set to hold its second meeting under new chairman Kevin Warsh starting Tuesday, with markets expecting policymakers to keep interest rates steady amid inflation concerns that could be exacerbated by US President Donald Trump’s renewed war on Iran. Warsh was chosen to lead the US central bank by Trump, who has made his demand for lower interest rates clear as he has exerted unprecedented pressure on the independent monetary policy making body.

After two days of closed-door sessions, the Fed’s open market committee (FOMC) will announce its decision on Wednesday at 2pm (2am Thursday Malaysian time), followed by a press conference by Warsh.

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