The Federal Reserve has maintained its interest rates at a meeting despite geopolitical turmoil and rising inflation expectations due to the Iran war. The federal funds rate, which sets what banks charge each other for overnight lending, has remained steady since December in a target range of 3.5% to 3.75%. This decision will have a significant impact on consumer borrowing and savings rates, particularly for Americans struggling with rising gas prices and affordability challenges. The decision was met with resistance from President Donald Trump, who argued that inflation had been "defeated". Experts predict that if tensions in the Iran conflict lessen, inflation will gradually subside, but the economy may have to absorb higher inflation again.