Fed Holds Rates Steady, Signals Possible Hikes Under New Chair Kevin Warsh

The Federal Reserve held rates at 3.50-3.75% but signaled a shift toward tighter policy under new Chair Kevin Warsh, with nine officials now expecting at least one rate hike by year-end. Bitcoin dropped from $66,000 to $64,000 on the news.

• Fed held rates steady at 3.50-3.75% but signaled possible rate hikes later in 2026 under new Chair Kevin Warsh
• Nine officials now expect at least one rate increase by year-end; in March none had forecast a hike
• Bitcoin fell from $66,000 to around $64,000 after the announcement; S&P 500 dropped nearly 1%
• Warsh described the meeting as a 'good family fight' and said the central bank is entering a 'new chapter'
• Inflation forecasts were revised up: headline PCE now expected at 3.6% for 2026

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Last updated 18 Jun 2026