WATCH LIVE: New Fed chair Kevin Warsh holds first news conference after interest rate decision
Summary
President Donald Trump’s pick, Kevin Warsh, is leading his first Federal Reserve meeting and holding his first news conference as Fed chair. The central bank is expected to keep interest rates steady at about 3.6% and may signal no immediate plans to lower rates.Key Facts
- Kevin Warsh is the new chair of the Federal Reserve, appointed by President Donald Trump.
- Warsh held his first policy meeting and news conference on Wednesday.
- The Fed is expected to keep its key interest rate at 3.6%, unchanged for the fourth meeting in a row.
- The Fed’s statement may no longer suggest that interest rates will be lowered soon.
- This could mean rates stay steady for a longer time or even rise if inflation remains high.
- Warsh has a background as an investment banker and was a Fed board member from 2006 to 2011.
- He is also a visiting fellow at the Hoover Institution, a conservative think tank.
- Wall Street, economists, and the White House are closely watching Warsh’s leadership style and decisions.
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