The U.S. Federal Reserve has announced it will maintain the federal funds rate at 3.5% to 3.75%, marking the fourth consecutive hold this year. This decision aligns with market expectations. The Fed's Summary of Economic Projections indicates an increased median forecast for the federal funds rate in 2026 to 3.8%, suggesting potential rate hikes this year. Additionally, the Fed raised its median forecast for the Personal Consumption Expenditures price index to 3.6% and core inflation to 3.3% for 2026. Federal Reserve Chair Kevin Warsh, in his first press conference, emphasized the commitment to achieving price stability, acknowledging that inflation remains above the 2% target. The U.S. economic growth forecast for 2026 was adjusted down to 2.2% from 2.4%. Warsh highlighted the burden of persistently high prices on Americans, reinforcing the Fed's focus on controlling inflation.