Federal Reserve Chair Kevin Warsh speaks during the press conference following the Federal Open Market Committee's announcement that it was holding interest rates. SAUL LOEB / AFP via Getty Images

The Federal Reserve held interest rates steady as was widely expected. The rate remained unchanged after a 10-2 vote, where 2 officials voted to hike rates by 25 bps.

Fed chair Kevin Warsh , who began his term leading the central bank in May, said the Fed is working to deliver future price stability and quash inflation during the Federal Open Market Committee press conference following the hold announcement.

"The period right in front of us is information rich," Warsh said.

He added: "We're going to be able to figure out what's the appropriate protocol, as part of this package that we started to deliver five months ago, to deliver price stability."

In September, the Fed opted for a quarter-point increase — the first hike in three years — aimed at tackling rising inflation .…