Fed decision as it happened: US central bank drops bias for rate cuts as Kevin Warsh era begins
• The US Federal Reserve has abandoned its previous bias toward cutting interest rates as inflation has surged to nearly double the central bank's target. • This policy shift coincides with the beginning of the Kevin Warsh era at the central bank and follows escalating geopolitical tensions stemming from Donald Trump’s conflict with Iran. • The decision matters as it signals a pivot toward tighter monetary policy to combat rising prices, potentially slowing economic growth to stabilize the currency.
ft.com
