Federal Reserve Chair Kevin Warsh's first policy meeting drew mixed reactions from economists, with attention centered on his decision not to submit a dot plot projection, his inflation messaging and his plans to reform the institution The Fed held rates steady at 3.50%-3.75% on Wednesday and reiterated its commitment to restoring price stability.
Dot Plot Decision Draws Scrutiny Warsh's decision against submitting a dot plot projection drew attention from economists, particularly as the Fed's latest Summary of Economic Projections (SEP) pointed to a higher policy-rate path than officials had anticipated in March.
Former Fed economist Claudia Sahm said in a post on X that the SEP was intended to show the appropriate policy path needed to achieve the central bank's dual mandate over the next few years.
The Summary of Economic Projections has its flaws but it is an exercise in what's the appropriate policy to achieve the dual mandate over the next few years.
Warsh refused to participate, and then refused to share his thinking in presser.— Claudia Sahm (@Claudia_Sahm) June 17, 2026 "Throwing the national accounts statistics under the bus as FED CHAIR. srsly?
