New Federal Reserve Chair Kevin Warsh refrained from submitting his own economic projections in the Summary of Economic Projections, breaking a 14-year precedent set by former Chair Ben Bernanke. The Fed left interest rates unchanged in the 3.50%-3.75% range, but Warsh confirmed he did not participate in the rate-setting Federal Open Market Committee's dot plot, making him the first board chair to abstain entirely. Warsh argued that financial markets perform best when reacting to incoming data rather than anticipating the Fed's response. He also announced five policy task forces to examine areas central to monetary policy, including communications, balance sheet policy, data reliance, productivity and jobs, and the inflation framework.