The Federal Reserve kept rates at 3.50%-3.75% but revised inflation forecasts sharply higher to 3.6%, with nearly half of officials now projecting rate

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.

Futures markets overwhelmingly expect the Fed to hold interest rates steady.

The Federal Reserve held interest rates steady at 3.5%-3.75% in Kevin Warsh's first meeting, with policymakers signaling potential rate hikes to combat surging inflation. Despite…