Fed Chair Kevin Warsh defended the FOMC's 9-3 vote to hold rates at 3.5%-3.75%, vowing no soft inflation target as September hike odds hit 59%.

Fed Chair Warsh faces pressure as inflation remains high. Rate cuts by October 2026 at 0.1% YES, pauses at 1.8% YES.

The Fed left interest rates unchanged during Kevin Warsh's second FOMC meeting as policymakers maintained a hawkish outlook.