Fed chair Warsh holds rates, signals 2026 hike (opens in new tab)

Federal Reserve Chair Kevin Warsh kept the federal funds target range unchanged at 3.50% to 3.75% at his first policy meeting, a decision several reports described as expected and unanimous. Updated projections pointed to tighter policy: the year-end rate median moved to about 3.8% from 3.4% in March, and policymakers raised the 2026 inflation outlook to 3.6% from 2.7%. Warsh also changed the Fed’s communications style, dropping near-term forward guidance from the policy statement, declining ...