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Kevin Warsh declines to hint at July rate decision in first international appearance as Fed chair
Kevin Warsh said the central bank will stay independent and gave no forecast, while markets price a 66.3% chance of steady rates in July.
- On Wednesday, Federal Reserve Chair Kevin Warsh addressed a central bank conference in Sintra, Portugal, affirming the Federal Reserve's independence and commitment to lowering inflation despite President Donald Trump's calls for rate cuts.
- Warsh declined to signal future policy steps, maintaining his opposition to "forward guidance" while emphasizing his goal of returning inflation to target levels.
- Addressing political pressure for lower rates, Warsh underscored the Fed's autonomy, stating, "We're going to be an independent central bank at this moment and you're going to see no changes to that."
- Markets currently price in a 66.3% chance of the Fed keeping rates steady at the July meeting, alongside a 66.9% chance of a quarter-point hike at the subsequent FOMC meeting in September.
- Investors are monitoring ISM Manufacturing PMI and ADP employment figures today for policy clues, while the 2-year Treasury note traded at around 4.17% following recent yield increases.
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37 Articles
37 Articles
The president of the Federal Reserve defends the “independence” of the institution after the Supreme ruling and affirms that the risks of inflation have been softened
·Spain
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Warsh warns investors not to expect hints at future Fed rate moves
New Federal Reserve chief Kevin Warsh gave no hint of whether the central bank would raise interest rates in July and repeated his dislike of so-called forward guidance to alert investors to future Fed actions.
·United States
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Fed's Warsh: Will decide on rate hike when policymakers 'shut the door' at next meeting
U.S. central bankers will decide whether to raise interest rates when they "shut the door" and begin their next meeting, U.S. Federal Reserve Chairman Kevin Warsh said on Wednesday at an international panel where he told questioners they would "fail" to break his rule against forward guidance.
·New York, United States
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Coverage Details
Total News Sources37
Leaning Left14Leaning Right2Center13Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 45%
Factuality
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