US Federal Reserve holds rates steady at Kevin Warsh's first FOMC meeting

The US Federal Reserve held interest rates steady at the 3.5%-3.75% range in a unanimous 12-0 vote at Kevin Warsh's first FOMC meeting. The decision reflects a wait-and-watch stance as officials assess whether above-target inflation is temporary or persistent, supported by strong US hiring and low unemployment. The hold was largely in line with expectations, keeping focus on inflation trajectory and its implications for emerging markets like India through currency and FII flow channels.