by Coinstrooper Crypto Articles
Quick Take
  • Kevin Warsh delivered his first press conference as Fed chair on Wednesday, June 17, 2026.
  • Gold and Bitcoin prices crashed as Warsh’s debut delivered remarks unfriendly toward risk assets.
  • Follow us on X to get the latest news as it happens
  • After a decision to hold interest rates steady, key takeaways from his press conference, beyond refusing to give any forward guidance, include:

What Happened

Economic activity is “expanding at a solid pace,” with strong productivity, capital investment, and stable labor market, but inflation has run well above 2% for over five years.

Market Context

Gold and Bitcoin prices crashed as Warsh’s debut delivered remarks unfriendly toward risk assets.

Key Market Takeaways in Warsh’s FOMC Debut

On commitment to price stability:

“I’m pleased to report that members of the FOMC are unambiguous and unanimous that this committee will deliver price stability.”

Why It Matters

Kevin Warsh delivered his first press conference as Fed chair on Wednesday, June 17, 2026.

Follow us on X to get the latest news as it happens

Details

After a decision to hold interest rates steady, key takeaways from his press conference, beyond refusing to give any forward guidance, include:

On the decision and economy:

“This week’s FOMC meeting exemplified the best of the Fed traditions: vigorous debate, open-mindedness, commitment to mission, responsibility and accountability for performance… Getting monetary policy right — or as near to it as we can do. That is our North Star.”

The committee held the target range for the federal funds rate at 3.50%–3.75%.

On the new, shorter policy statement:

“It is a bit shorter, a bit simpler, and dispenses with some older language. It just gives you the facts, as best we can judge it.”

“Absent, also, is so-called forward guidance, which we agreed was not well suited to the current policy conjuncture.”

On the dot plot/SEP:

“It has been the practice of this committee for participants to submit these projections and I have encouraged my colleagues to continue to do so. I, however, have refrained from offering projections of my own.”

Median projections showed a slightly higher rate path, with nine officials seeing at least one hike in 2026.

On the five task forces (communications, balance sheet, data sources, productivity/jobs/AI, inflation frameworks):

“These subjects are timely, consequential, and in my view, worthy of a fresh look… They will have a straightforward charge: ask hard questions, examine current practice, consider alternatives.”

“Each task force will have an objective shared by everyone… A Federal Reserve that is clear-eyed about its mission, fit for purpose, and focused on the future.”

Key Q&A Quotes

On the 2% inflation target:

“That is the Federal Reserve’s long-held objective of 2%. The ‘two’ is the left of the decimal point. For now, ‘zero’ is to the right.”

“I see no reason until we have reestablished our commitment and ability to deliver on the 2% inflation objective to revisit that.”