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Fed Holds Rates as Warsh Shifts Strategy
Description
The Fed held steady on rates despite inflation hitting a three-year high, marking the first meeting under new Chair Kevin Warsh — who’s ditching forward guidance to let markets focus on real data. While no hike today, some FOMC members expect one by year-end, and Warsh hinted at revisiting rates in six weeks. This shift could make mortgage rates more volatile, keeping them likely above 6% until inflation cools and long-term yields drop.
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