Fed holds interest rates steady as Iran war drives up oil prices and inflation fears

Jerome Powell resists Trump pressure as policymakers weigh energy shock against a weakening US jobs marketSign up for the Breaking News US email to get newsletter alerts in your inboxThe US Federal Reserve held interest rates steady for the second time this year, a widely expected move amid turmoil in the Middle East and rising energy prices.Fed officials faced a confluence of issues to consider in their meeting this week: soaring oil and gas prices, fluctuating inflation that still remains above the Fed’s target of 2%, and a weakened job market that unexpectedly saw 92,000 losses last month. Continue reading...