US Federal Reserve holds interest rates steady

Policymakers at the US Federal Reserve have held their first meeting with a new leader in charge. Kevin Warsh was appointed by President Donald Trump.

He and his colleagues have decided to hold interest rates steady. Policymakers are keeping the figure between 3.5 and 3.75 percent. They have now kept the rate unchanged for four straight meetings. Warsh pledged that the committee would "deliver price stability."

The consumer price index in May reached its highest level in more than three years. Experts said that is due to the situation in Iran. The policymakers used the meeting to release a list of economic projections. It indicated that they could raise rates once by the end of the year.