Dollar edges up ahead of Fed decision as Kevin Warsh leads first meeting

The Federal Reserve is expected to keep its benchmark rate unchanged at 3.50% to 3.75% after its two-day meeting, while potentially removing its “easing bias” language from the policy statement. New Chair Kevin Warsh will hold his first post-meeting press conference, where he may highlight alternative inflation gauges such as the Dallas Fed’s trimmed mean PCE, signaling greater caution on rate cuts. The dollar index inched up to 99.66, while oil prices weakened on expectations tied to an interim agreement to end the Iran war.