New Federal Reserve Chair Kevin Warsh ended his first FOMC meeting without changing interest rates.
The FOMC statement said officials voted 12-0 to keep the federal funds target range at 3.50% to 3.75%.
The Fed said economic activity was expanding at a solid pace, while inflation remained above its 2% target. It also said some price pressure came from supply shocks and energy costs. The statement added that the committee “will deliver price stability.”
Tone shifts from Powell era
Warsh’s first press conference drew attention because his style differed from Jerome Powell’s more direct communication approach. According to the New York Times report, Warsh used phrases such as “first principles,” “alternative frameworks,” and the Fed’s “remit.”
New Fed Chair Kevin Warsh’s First FOMC Meeting and Press Conference
According to The New York Times, newly appointed Federal Reserve Chairman Kevin M. Warsh concluded his first policy press conference on Wednesday following his initial FOMC meeting. Warsh exhibited a sharp… pic.twitter.com/vLjzxOO9zl
— Wu Blockchain (@WuBlockchain) June 18, 2026
The report also said Warsh confirmed he was the only Fed policymaker who did not submit a projection for the dot plot. That decision put more focus on how he plans to guide markets without giving a clear path for future rate cuts.
In addition, Warsh also used the press conference to announce a broad review of the central bank’s work. A Reuters report said he named five task forces covering inflation, communications, economic data, productivity and the labor market.
“I’m appointing a task force in each of five areas that are central to the broad conduct of monetary policy,” Warsh said. He added that the groups may begin work in the coming weeks and provide early views in the fall.
Crypto watches higher-rate risk
As crypto.news reported earlier, Warsh held rates steady as Bitcoin fell to around $65,430 and Ethereum traded near $1,770. That report said Fed projections showed nine officials expected at least one rate hike this year.
According to an earlier crypto.news report, Warsh’s swearing-in had already tested rate-cut hopes before the June meeting. Traders had moved away from quick easing bets as inflation concerns and energy risks stayed in focus.
Bitcoin waits for inflation data
The Fed’s decision gives crypto markets few near-term signs of easier liquidity. Higher rates can keep pressure on Bitcoin and other risk assets because investors often favor cash and short-term debt when yields remain high.
crypto.news previously reported that Bitcoin traders braced for the Fed decision as market odds pointed strongly to no June rate cut. The next market test will come from inflation data, labor reports and Warsh’s future comments on policy.
Trump had pushed for lower rates before Warsh took over, but the new chair did not give a timeline for cuts. Trump reacted mildly to the hold decision while still praising Warsh.
