Live: ASX to open down as new Fed chair leaves rates on hold

The Australian Stock Exchange (ASX) is set to open lower following the Federal Reserve's decision to keep interest rates unchanged under its new chair, Kevin Warsh. This marks his first meeting as chair, and the decision reflects a cautious approach amid mixed economic signals. Investors are likely feeling jittery about the potential impact on borrowing costs and economic growth. This move underscores the delicate balance the Fed aims to strike between combating inflation and avoiding a recession, which has broader implications for global markets and economic stability.