Washington —
Federal Reserve Chairman Kevin Warsh has promised “regime change.” On Wednesday, after leading his first policy meeting, he made it clear he is serious.
Under the new Fed chairman, officials voted Wednesday to hold interest rates steady for the fourth consecutive meeting, leaving their benchmark lending rate at a range of 3.5% to 3.75%.
But that wasn’t the biggest news.
Will Warsh controls inflation better than Powell in 2026?
Fed officials hinted at a potential rate hike later this year to combat the latest inflation spike tied to the war with Iran, according to their latest economic projections. And during his first post-meeting news conference, Warsh announced task forces “in each of five areas that are central to the broad conduct of monetary policy.”
Warsh, who has long criticized central bankers’ practice of releasing projections every quarter, did not submit his own. That was just one of many things that were different this Fed meeting: The Fed’s policy statement got a makeover and is now much shorter; Warsh’s news conference was also slightly shorter, at least compared to the ones conducted by his predecessor; and even more changes seem to be on the way.
Source: CNN; https://edition.cnn.com/2026/06/17/economy/fed-rate-decision-june-kevin-warsh
