Following Kevin Warsh's first monetary policy meeting as Federal Reserve chairman, the central bank on Wednesday announced its widely expected decision to leave interest rates unchanged.
The Fed said it decided to maintain the target range for the federal funds rate at 3.50 to 3.75 percent, citing its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.
In a significantly pared down statement, the Fed said economic activity is expanding at a solid pace despite elevated uncertainty due in part to the conflict in the Middle East.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.