Fed expected to hold rates steady despite inflation frustration

Federal Reserve policymakers are expected to keep interest rates unchanged at their meeting this week, despite growing frustration over inflation that has exceeded the 2% target for over five years. New Fed Chair Kevin Warsh has expressed 'no tolerance' for elevated prices, but most analysts predict no action until September, when 76% of traders foresee a rate hike. Uncertainty from the Iran war and oil price volatility also clouds the outlook.