The US Federal Reserve maintained its benchmark interest rate in the 3.50% to 3.75% range on Wednesday, marking a fifth consecutive meeting without a policy adjustment.
The decision underscores the central bank's cautious stance amid persistent inflationary pressures and the economic fallout from the ongoing military conflict between the United States and Iran.
Despite public calls from President Donald Trump for a significant rate reduction, the Fed remained unmoved.
The disconnect between the White House and the central bank highlights the limits of political influence over monetary policy, even with a Fed chair appointed by the current administration.
Trump has recently asserted that inflation has reached all-time highs, a claim that intensifies the debate over the appropriate policy response to the current economic climate.
Markets had widely priced in the hold, with CME FedWatch data indicating near-certainty of no change.