The Federal Reserve on Wednesday left interest rates unchanged.
The Federal Open Market Committee (FOMC) voted 11-1 to keep interest rates steady at 3.5% to 3.75%.
Stephan Miran, the Trump-appointed member of the Federal Reserve Board of Governors, was the lone dissenting vote.
Miran was in favor of cutting interest rates 25 basis points – or 0.25%.
CNBC reported:
The Federal Reserve on Wednesday voted to hold its key interest rate steady as policymakers navigate their way through higher-than-expected inflation readings, mixed signs on the labor market – and a war.
In a widely expected decision, the Federal Open Market Committee voted 11-1 to keep the benchmark federal funds rate anchored in a range between 3.5%-3.75%. The rate sets overnight funding costs for banks but influences a broad range of consumer and business borrowing.
The committee in its post-meeting statement made few changes to its view on the economy, with a slightly faster pace of growth and higher inflation projections for the full year in 2026. Federal Reserve Chair Jerome Powell will answer questions at a 2:30 p.m. ET news conference.
Despite the elevated uncertainty, officials again signaled they still expect a few rate cuts ahead. The closely watched “dot plot,” which reflects individual members’ rate projections, pointed to one reduction this year and another in 2027, though the timing remains unclear.
Federal Reserve Chairman Jerome Powell held a news conference after the FOMC voted to keep rates steady.
“The US economy has been expanding at a solid pace. While job gains have remained low, the unemployment rate has been little changed in recent months and inflation remains somewhat elevated,” Powell said.
“Today the FOMC decided to leave our policy rate unchanged,” Jerome Powell said.
“The implications of developments in the Middle East for the US economy are uncertain,” he added.
WATCH LIVE: Fed Chair Jerome Powell holds news conference after interest rate decision
https://t.co/9zq4h9EsRj— Fox News (@FoxNews) March 18, 2026
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