The Fed held rates at 3.50%-3.75% in Kevin Warsh's first meeting as Chair, dropped its easing bias and signaled no cuts in 2026.

The Federal Reserve is expected to hold rates at 3.50%-3.75% at its June meeting, with 96% probability. New chair Kevin Warsh faces his first FOMC decision.

Trump signaled he would allow his new Federal Reserve chair “do what he wants to do.”