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Kevin Warsh, the Federal Reserve chairman, will explain the central bank's decision on rates, as energy prices and A.I. spending keep inflation uncomfortably high. Note: Data represents the lower, upper and midpoint of the federal funds target rate range. See more of our coverage in your search results. The Federal Reserve is expected to press pause on raising interest rates Wednesday after delivering an increase last month for the first time since 2023. Officials have signaled that the reprieve is likely to be temporary because they have more work to do to tame persistent inflation. But they have conveyed that there is no urgency to raise rates two months in a row. Recent inflation data has complicated that message. Price pressures appear to be accelerating, rather than moving toward the Fed's 2 percent target, a level that has been missed for nearly six years. Kevin M. Warsh, who took over as Fed chairman in May, has vowed to get inflation back to that level more quickly. Looming large over Wednesday's decision are next week's midterm elections. Officials insist elections don't factor in their deliberations, but the political backdrop has heightened scrutiny of Mr. Warsh. The Fed will release its rate decision at 2 p.m. in Washington. Mr. Warsh will hold a news conference at 2:30.