The Federal Reserve held interest rates at 3.5%-3.75% in Chair Kevin Warsh's first FOMC meeting, removing rate-cut guidance and signaling a hawkish shift.

The Federal Reserve's June meeting, the first helmed by new Fed Chair Kevin Warsh, may impact many consumer borrowing and savings rates down the road.

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.