Fed Holds Rates Steady, Keeps One 2026 Cut on Table as Inflation Outlook Climbs
The Federal Reserve held its benchmark rate at 3.50% to 3.75% and projected just one quarter-point cut this year. Officials raised their 2026 inflation forecast to 2.7% and left unemployment at 4.4%. Governor Stephen Miran dissented, calling for an immediate cut. Stocks fell and Brent crude traded above $108 a barrel.