Fed meeting live: Kevin Warsh faces challenging inflation backdrop in his first meeting as Fed chairman

Live updates

1. 2d ago

   Warsh initiates Fed overhaul amid high inflation

   Fed Chairman Kevin Warsh has launched task forces to rethink nearly all Federal Reserve operations. He maintains steady interest rates while facing a three-year inflation peak. This economic climate complicates demands from President Trump for rate cuts.

   What's confirmed:

   • Kevin Warsh is the current chairman of the Federal Reserve.
   • Inflation has reached a three-year high.

   Still unconfirmed:

   • President Trump has demanded interest rate cuts.
   • The Fed is establishing task forces to rethink virtually everything done at the institution.
   confidence 90%
2. 4d ago

   Kevin Warsh maintains rates in first meeting as Fed chief

   Fed Chairman Kevin Warsh kept interest rates steady during his first meeting. He indicated that the central bank will change its methods for communicating and conducting monetary policy. The move follows a period of high inflation and political pressure.

   What's confirmed:

   • Kevin Warsh held interest rates steady at his first meeting as Fed Chair.
   • The Federal Reserve is dealing with high inflation.

   Still unconfirmed:

   • The Fed is facing pressure from the White House.
   • Rate hikes remain possible in the future.
   • Two-year Treasury yields experienced their biggest jump since April 9, 2025, after the press conference.
   confidence 90%
3. 6d ago

   Fed holds rates steady in Kevin Warsh's first meeting as chairman

   The Federal Open Market Committee kept interest rates unchanged during the first meeting led by Kevin Warsh. Officials signaled that rate hikes remain possible in the future. Two-year Treasury yields saw their largest jump since April 9, 2025, following the press conference.

   What's confirmed:

   • The Federal Open Market Committee held interest rates steady during Kevin Warsh's first meeting as chairman.
   • The Fed signaled that rate hikes are possible moving forward.

   Still unconfirmed:

   • Two-year Treasury yields rose 13 bps in trading after the Wednesday press conference.
   confidence 90%
4. 8d ago

   Fed Holds Rates Steady in Kevin Warsh's First Meeting as Chair

   The Federal Reserve kept interest rates at 3.5% to 3.75% in a unanimous vote on Wednesday. This marks the fourth consecutive meeting where rates remained unchanged. Officials suggested a possible rate hike later this year to address inflation linked to the war with Iran.

   What's confirmed:

   • The Federal Reserve held interest rates steady on Wednesday.
   • The unanimous vote kept interest rates between 3.5% and 3.75%.
   • This is the fourth consecutive meeting where the Fed held rates steady.
   • Kevin Warsh presided over his first FOMC meeting as chairman.

   Still unconfirmed:

   • Inflation has reached a three-year high of 4.2%.
   • Warsh signaled a break from tradition during the meeting.
   • Officials may hike rates later this year to combat inflation tied to the war with Iran.
   • Warsh used tough talk on inflation during the Wednesday session.
   confidence 90%
5. 9d ago

   Fed holds rates steady as Warsh’s first meeting focuses on messaging and inflation splits board

   The Federal Reserve kept interest rates unchanged under new Chairman Kevin Warsh amid persistent inflation, with internal divisions over future moves. Markets now prioritize Warsh’s communication strategy over immediate policy shifts. President Trump’s expectations of rate cuts clash with the Fed’s cautious stance. Projections show uncertainty between no cuts or potential hikes this year.

   What's confirmed:

   • The Federal Reserve held interest rates steady during Kevin Warsh’s first meeting as chairman.
   • Internal Fed projections show officials split between expecting no rate cuts in 2026 and anticipating one or more hikes due to inflation concerns.
   • Markets are now more focused on Warsh’s communication strategy and how the Fed will frame future policy decisions than on immediate rate changes.
   • The likelihood of a Fed rate hike in 2026 has dropped significantly in recent weeks, according to investor sentiment.
   • President Trump’s nomination of Warsh was partly based on expectations of rate reductions, which now conflict with the Fed’s cautious approach.

   Still unconfirmed:

   • Warsh may signal a shift in the Fed’s communication style to address market uncertainty about future policy direction.
   confidence 95%
6. 9d ago

   Fed holds rates steady as Warsh faces inflation pressure in first meeting

   Federal Reserve Chairman Kevin Warsh led his first policy meeting with no rate change amid persistent inflation, while markets await clues on his approach to future hikes or cuts. The decision splits the board and draws scrutiny from President Trump, who had nominated Warsh expecting rate reductions. Warsh’s communication strategy and long-term inflation stance remain key unknowns.

   What's confirmed:

   • The Federal Reserve kept interest rates unchanged during Kevin Warsh’s inaugural meeting as chairman, maintaining the December 2025 levels.
   • Warsh’s first press conference will signal his strategy for inflation and potential rate adjustments, including whether the Fed will withhold its ‘dot plot’ rate projections.
   • Elevated inflation remains the dominant challenge for Warsh, with market speculation focused on whether the Fed will signal future hikes despite Trump’s push for cuts.
   • The Fed board is divided, and Warsh faces political pressure from President Trump, who appointed him with expectations of rate reductions.

   Still unconfirmed:

   • Warsh may reshape the Fed’s communication strategy to reduce market volatility, though specifics remain unclear.
   • Internal Fed discussions suggest a cautious approach to rate hikes, but no consensus has emerged on timing or magnitude.
   • Trump’s administration is reportedly frustrated with the lack of immediate rate cuts, though no direct intervention is confirmed.
   confidence 88%