← March 19, 2026 briefingEconomy
Fed Holds Rates as Iran War Stokes Inflation
The US Federal Reserve held interest rates steady at 3.5–3.75%, resisting pressure from both Donald Trump and surging oil prices driven by the Iran conflict. Fed chair Jay Powell warned the war will worsen US inflation, and short-term borrowing costs have jumped to their highest level since last summer. Before the conflict began, markets had widely expected a rate cut at this meeting.
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