Fed set to make interest rate decision as inflation hits 3-year high - ABC7 Los Angeles

Futures markets overwhelmingly expect the Fed to hold interest rates steady. The Federal Reserve is set to announce its latest decision on interest rates on Wednesday as the central bank weathers the highest inflation in three years. The announcement will mark the first possible adjustment of the benchmark interest rate since Trump nominee Kevin Warsh began his four-year term as Fed chair last month. The policy move is also set to arrive at a moment of flux for the nation's economy, just days after an agreement between the United States and Iran offered hope for some price relief. The U.S.-Iran accord, set to be formally signed on Friday, came as gasoline prices fell below $4 a gallon for the first time since March.