Fed holds key interest rate steady; Warsh says inflation 'too high'

The US Federal Reserve on Wednesday held its benchmark interest rate steady, following the central bank's quarter percentage point hike last month, while noting that inflation remains high and needs to be kept in check. During the two-day Federal Open Market Committee meeting, the Fed decided to maintain the rate at the 3.75-4.00 percent range in a 10-2 vote. "The Committee is continuing its policy of maintaining ample reserves in the banking system," the Fed said in a statement. Last month, the

Source: The Korea Herald