The Federal Reserve has announced for the fourth consecutive time this year that it will hold interest rates steady.

TechFlow News, June 18: According to CCTV News, on June 17, the U.S. Federal Reserve announced that it would keep the federal funds rate target range unchanged at 3.5%–3.75%. This marks the fourth consecutive decision this year to hold rates steady, aligning with broad market expectations.

The Summary of Economic Projections (SEP) released simultaneously by the Fed indicates that officials’ median projection for the federal funds rate in 2026 rose from 3.4% in March to 3.8%, suggesting officials anticipate rate hikes this year. The SEP also shows the Fed raised its median projection for this year’s Personal Consumption Expenditures (PCE) price index increase from 2.7% in March to 3.6%, and lifted its median forecast for core inflation this year from 2.7% to 3.3%. Meanwhile, the Fed lowered its growth forecast for the U.S. economy this year from 2.4% to 2.2%.

On June 17, Federal Reserve Chair Kevin Warsh stated in his first press conference since assuming leadership of the central bank that policymakers are committed to “achieving price stability.” He acknowledged that inflation has remained well above the Fed’s 2% target and remarked: “Persistently high prices are a burden on the American people.”