Fed Holds Rates Steady Despite ‘Elevated’ Inflation - The New York Times

The Federal Reserve held rates steady on Wednesday as expected. The two dissenting officials in favor of a quarter-point increase included Lisa D. Cook, a governor who is fighting to keep her job amid President Trump’s campaign to fire her. Kevin M. Warsh, the Fed’s chairman, leaned into the idea that the central bank had the flexibility to accumulate more information to make the right determination about rates because expectations about future inflation do not point to a lack of confidence in the Fed’s ability to eventually achieve the 2 percent target and because there are no signs the economy is overheating. Mr.