Fed Chair Kevin Warsh sets up five task forces to review policy framework as rates hold at 3.5%-3.75%

Kevin Warsh used his first FOMC meeting as Federal Reserve chair to announce five task forces that will conduct a broad review of the central bank’s monetary policy framework. The groups will examine communications, balance sheet policy, data collection, productivity and jobs, and the inflation-targeting framework. The FOMC kept its benchmark interest rate unchanged at 3.5%-3.75%, saying the economy is solid, the labor market is stable and inflation remains above the 2% goal. The effort is positioned as a medium- to long-term assessment rather than an immediate policy shift and is not viewed as a direct near-term pricing catalyst for traditional assets.