US Federal Reserve Chair Jerome Powell arrives for a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18, 2026. The US Federal Reserve kept interest rates unchanged Wednesday as expected, in defiance of President Donald Trump as the world's largest economy battles stubborn inflation, weak labor demand and an "uncertain" economic outlook due to the war in Iran. The Fed's 11-1 vote kept rates steady at a range between 3.50 percent and 3.75 percent, with officials flagging one expected rate cut by the end of the year. (Photo by Brendan SMIALOWSKI / AFP via Getty Images)

Traders work on the floor of the New York Stock Exchange (NYSE) in New York on March 18, 2026. The US Federal Reserve kept interest rates unchanged Wednesday as expected, in defiance of President Donald Trump as the world's largest economy battles stubborn inflation, weak labor demand and an "uncertain" economic outlook due to the war in Iran. The Fed's 11-1 vote kept rates steady at a range between 3.50 percent and 3.75 percent, with officials flagging one expected rate cut by the end of the year. (Photo by ANGELA WEISS / AFP via Getty Images)

Traders work on the floor of the New York Stock Exchange (NYSE) in New York on March 18, 2026. The US Federal Reserve kept interest rates unchanged Wednesday as expected, in defiance of President Donald Trump as the world's largest economy battles stubborn inflation, weak labor demand and an "uncertain" economic outlook due to the war in Iran. The Fed's 11-1 vote kept rates steady at a range between 3.50 percent and 3.75 percent, with officials flagging one expected rate cut by the end of the year. (Photo by ANGELA WEISS / AFP via Getty Images)

(FILES) Vessels are displayed on the stand of Beneteau boat builder on the opening day of the 2025 Paris Nautic Show at Le Bourget Exhibition Centre at Le Bourget on the outskirts of Paris on November 26, 2025. The French boating group Beneteau has posted a net loss of 43 million euros in 2025, following "a combination of inflation and rising interest rates" linked in particular to U.S. customs duties, executive board chairman Bruno Thivoyon said on March 18, 2026. (Photo by Thomas SAMSON / AFP via Getty Images)

France's Economy, Finances and Industry Minister Roland Lescure (R) looks on next to French President Emmanuel Macron (L) during a visit to the construction site of Naval Group Nantes-Indret, where the next generation French aircraft carrier is under construction, in Indret, western France, on March 18, 2026. The French president unveiled the name of France's next aircraft carrier: "France libre", as the country looks to reinforce its status as a major maritime power. Once completed, the new nuclear-powered flagship, which is set to replace the country's sole aircraft carrier, the Charles de Gaulle, will be the largest warship ever built in Europe. (Photo by Gonzalo Fuentes / POOL / AFP via Getty Images)

French President Emmanuel Macron (L) and France's Economy, Finances and Industry Minister Roland Lescure (R) look on during a visit to the construction site of Naval Group Nantes-Indret, where the next generation French aircraft carrier is under construction, in Indret, western France, on March 18, 2026. The French president unveiled the name of France's next aircraft carrier: "France libre", as the country looks to reinforce its status as a major maritime power. Once completed, the new nuclear-powered flagship, which is set to replace the country's sole aircraft carrier, the Charles de Gaulle, will be the largest warship ever built in Europe. (Photo by Gonzalo Fuentes / POOL / AFP via Getty Images)

Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 18, 2026. Wall Street stocks dipped early Wednesday after data showing an unexpected jump in producer inflation added to anxiety about a Federal Reserve decision later in the day. (Photo by ANGELA WEISS / AFP via Getty Images)

Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 18, 2026. Wall Street stocks dipped early Wednesday after data showing an unexpected jump in producer inflation added to anxiety about a Federal Reserve decision later in the day. (Photo by ANGELA WEISS / AFP via Getty Images)