PANews, June 18 – According to CCTV News, the U.S. Federal Reserve announced on the 17th that it will maintain the target range for the federal funds rate unchanged at 3.5% to 3.75%. This marks the fourth consecutive decision this year to hold rates steady, in line with broad market expectations.

The Fed also released its Summary of Economic Projections, which shows that Fed officials raised their median forecast for the federal funds rate in 2026 to 3.8%, up from 3.4% in March. This implies that Fed officials expect to implement rate hikes this year. The summary also shows the Fed sharply raised its median forecast for the Personal Consumption Expenditures price index this year to 3.6%, up from 2.7% in March, while the median core inflation forecast rose from 2.7% to 3.3%. The U.S. economic growth forecast for this year was revised down from 2.4% to 2.2%.

On the 17th, Federal Reserve Chair Kevin Warsh stated at his first press conference since taking office as central bank chair that policymakers are committed to "achieving price stability." He acknowledged that inflation has been running well above the Fed's 2% target and said, "Persistently high prices are a burden on the American people."