US Fed begins Warsh era with hold on interest rates, may hike later this year

The US Federal ⁠Reserve held interest rates steady on Wednesday, but policymakers expect a hike in borrowing costs later this year amid growing concerns about inflation lodged above the US central bank’s 2 per cent target. New quarterly projections showed nine Fed officials now anticipate a hike in rates by the end of 2026, and an updated policy statement removed language that had been used to fla