Fed Holds Rates at 3.50% to 3.75% in Kevin Warsh's First Meeting; FOMC Votes 12'0

The Federal Reserve kept its benchmark rate unchanged at 3.50% to 3.75% in Chair Kevin Warsh's first policy meeting, with the FOMC voting 12'0 and reaffirming ample reserves. The Fed said growth is solid but inflation remains above its 2% goal, citing supply shocks including energy. Bitcoin fell nearly 1% after the decision.