US Federal Reserve chairman Kevin Warsh said politics played no part in the central bank's decision to not continue raising rates days before crucial US midterm elections. (EPA Images pic)WASHINGTON: The US Federal Reserve on Wednesday held interest rates steady, even as its chairman Kevin Warsh said inflation remained "too high" but insisted that politics played no part in the central bank's decision not to continue raising rates days before crucial midterm elections.
The 12-member Federal Open Market Committee voted 10-2 to hold rates at a target range between 3.75 to 4.00 percent, citing the need for more data in the fight against inflation, after having hiked for the first time in three years at its previous meeting in September.
