Fed holds rates steady in first decision under new Chairman Kevin Warsh
CoinDesk 2026-06-17 17:52:23
Context: The Federal Reserve, under the leadership of its new Chairman Kevin Warsh, held its first policy meeting, leaving the benchmark fed funds rate range unchanged at 3.50%-3.75%, a decision that was widely expected by markets. This meeting marked a significant event as Warsh took over from Jerome Powell, having been confirmed by the Senate last month. The focus now shifts to Warsh's post-meeting press conference for insights into the central bank's future communication strategy and policy direction.
Key Facts
- The Federal Reserve maintained its benchmark fed funds rate range at 3.50%-3.75%, a move that was nearly unanimously expected by markets, in its first policy meeting under Chairman Kevin Warsh.
- Kevin Warsh assumed the role of Chairman after being confirmed by the Senate last month, succeeding Jerome Powell, and this meeting was his first major policy decision.
- Markets have been adjusting their expectations for potential rate cuts, now seeing a growing chance of a rate hike rather than a cut, due to persistent inflation and resilient labor market data.