Markets & Finance · Intelligence
—The debut. Kevin Warsh chaired his first Federal Reserve meeting on June 17, 2026, and held the benchmark rate steady at 3.50% to 3.75% in a unanimous vote.
—The shorter word. He cut the Fed’s post-meeting statement to just 130 words, down from the 300-plus that markets had grown used to parsing line by line.
—No more hints. Warsh dropped the practice of forward guidance entirely, telling reporters he could give no guidance on what the Fed would do next.
—The hawkish tilt. Half of the eighteen officials now expect at least one rate increase this year, lifting the year-end forecast to 3.8% from 3.4% in March.
