Fed holds at 3.50–3.75% in Kevin Warsh's debut meeting
The central bank kept rates steady as new Chair Kevin Warsh set a cautious tone.
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Oneonomy Admin
The Federal Reserve held the federal funds rate at 3.50%–3.75% on June 17, the first meeting chaired by Kevin Warsh.
What's happening
Updated projections lifted the Fed's inflation forecasts for the year.
A new chair, a familiar message: patience.
The overall message was read as leaning hawkish.
Why it matters
The bar for cuts looks higher than markets had hoped.
Tags
Central BanksFederal ReserveRates