In 6 Words, Fed Chair Kevin Warsh Just Dropped the Hammer on Wall Street

Live updates

1. 1d ago

   Fed Chair Kevin Warsh Ends Forward Guidance in First FOMC Meeting

   The Federal Reserve kept interest rates steady during Chair Kevin Warsh's first meeting. Warsh signaled a break from tradition by deleting forward guidance and rewriting the committee statement. The focus has shifted decisively toward price stability.

   What's confirmed:

   • The Federal Reserve held interest rates steady in June 2026.
   • Kevin Warsh is the new Fed Chair and was sworn in on May 22.
   • The FOMC vote to hold rates was unanimous for the first time in nine months.
   • The Fed deleted forward guidance from its statement.
   • The FOMC statement was rewritten and reduced in length by nearly two-thirds.
   • Governor Stephen Miran left the Board in May.

   Still unconfirmed:

   • Warsh used a six-word phrase to lay out his plan and potentially spoil Wall Street.
   confidence 90%
2. 5d ago

   Fed Chair Kevin Warsh Signals Policy Shift in First Meeting

   Incoming Fed Chair Kevin Warsh held interest rates steady during his first meeting but indicated changes to monetary policy communication. He has prioritized inflation control and adopted a leaner approach to the Federal Reserve. Markets are reacting with increased volatility and rising Treasury yields.

   What's confirmed:

   • Kevin Warsh was sworn in as Fed chair on May 22.
   • Warsh held interest rates steady at his first meeting.
   • The 2-year Treasury note yield reached its highest level since February 2025.
   • Warsh previously served as a Federal Open Market Committee member from February 24, 2006, to March 31, 2011.

   Still unconfirmed:

   • Warsh is implementing a regime change described as being in a velvet glove.
   confidence 80%