Central Banks
Fed Holds Rates Steady, Powell Vows to Stay Amid DOJ Probe
Federal Reserve Chair Jerome Powell during a news conference following a Federal Open Market Committee meeting in Washington on Wednesday, March 18, 2026.
Photographer: Kent Nishimura/BloombergFederal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East.
Chair Jerome Powell emphasized that to resume lowering rates, officials would have to see progress in reducing inflation, especially goods inflation that has been boosted by tariffs.