monetary policy

The Federal Reserve kept interest rates steady at 3.5%-3.75% with an 8-4 vote, the most dissents since 1992. Kevin Warsh is expected to become the next Fed chair as Jerome Powell remains a governor.

Federal Reserve officials divided over monetary policy after Iran ceasefire. Markets see rate-cut odds double, but inflation threatens hikes. Money market rates hit 4.22% —highest in recent memory.