New Federal Reserve chairman holds US interest rates despite pressure from Donald Trump

Federal Reserve holds rates with short statement and hawkish projections

The Fed opted not to raise rates despite elevated inflation but nine officials signaled support for at least one hike this year.

Fed Holds Rates Steady, But More See Higher Rates as Next Move

In a unanimous decision, the Federal Open Market Committee (FOMC) maintained its baseline interest rate at a range of 3.5 percent to 3.75 percent.