Fed holds key rate steady, projects 1 rate cut this year amid Iran war uncertainty

The US Federal Reserve on Wednesday held its benchmark interest rate steady for the second consecutive time and maintained its projection of one rate cut this year, as concerns grew over the economic impact of the ongoing US-Israeli war against Iran. During the two-day Federal Open Market Committee meeting, the central bank decided to leave the rate unchanged at the 3.5-3.75 percent range. The pause put the gap between the key rates of South Korea and the United States at up to 1.25 percentage p

By The Korea Herald