American households face a dual economic shock in 2026, with tariff policies costing the average family $1,500 in higher prices on goods — the US effective tariff rate at 11 percent, the highest since 1943 — while the Iran war drives oil to $96 per barrel and pushes inflationary pressure acr…
WASHINGTON — The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation in a policy statement that drew three dissents from officials who no longer feel the U.S. central bank should communicate a bias toward lowering borrowing costs.
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U.S. Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026. REUTERS/Kevin Lamarque
Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, stands at the end of an April 21 Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C.
U.S. Federal Reserve Chair Jerome Powell attends a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., April 29, 2026. REUTERS/Kevin Lamarque
Kevin Warsh, U.S. President Donald Trump's nominee to be next chair of the Federal Reserve, stands at the end of an April 21 Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C.
