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Kevin Warsh held his first news conference since taking over as the Federal Reserve chair. With inflation at its highest level in three-plus years, Warsh and his colleagues held interest rates steady.
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Officials at the Federal Reserve were split between no cuts this year and one or more rate increases as they braced for higher inflation, according to a new set of projections.
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Gundlach said Warsh's stance reduces the risk of overly accommodative monetary policy that could reignite inflation and push longer-term borrowing costs higher.
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;Resize=(620)) A Russian warship fired warning shots near a U.K.-registered pleasure yacht in the English Channel on Tuesday, authorities said, an incident that caused no damage but illustrated heightened tensions between the two countries.
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