Philadelphia Inquirer
Philadelphia Inquirer
US · 20 mins ago

AP Top News at 3:19 p.m. EDT

Fed leaves interest rate unchanged but with 3 dissents as Warsh praises 'good family fight'WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation and a spike in energy prices caused by the Iran war. The Fed’s rate-setting committee reached the 9-3 decision after two days of deliberations, marking the fifth straight meeting at which the benchmark rate was kept at around 3.6%. Dissenting in favor of a quarter-point interest rate hike were Beth Hammack, president of the Federal Reserve Bank of Cleveland; Neel Kashkari, president of the Minneapolis Fed; and Lorie Logan, president of the Dallas Fed. In reaction to the dissents, Fed Chair Kevin Warsh told reporters at a press conference following the Fed's announcement, “I asked f
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