Warsh holds first Fed meeting as chair, keeps benchmark rate at 3.5%-3.75% and pledges “price stability”
Kevin Warsh chaired his first FOMC meeting on June 17, keeping the federal funds rate at 3.5% to 3.75% while pledging the Federal Reserve would deliver “price stability.” He said the Fed cannot meaningfully move specific prices such as gasoline and groceries, but aims to prevent jumps in items like oil or food from spreading into broader inflation. Warsh also downplayed forward guidance and announced five monetary-policy task forces, signaling the central bank could change how it operates by year-end.
