Federal Reserve Chair Kevin Warsh has held the federal funds rate steady at his first two FOMC meetings since taking over in May 2026, despite inflation running at 3.5% and unemployment at 4.2%. Warsh has instead launched five internal task forces to review the Fed's communications, balance sheet, data processing, assessment of AI, and understanding of inflation drivers, with findings expected by year-end. He is also considering reducing the number of FOMC meetings from eight per year. The cautious approach suggests rates may stay on hold longer than markets anticipated, though the 10-year Treasury yield has risen to 4.74% on concerns the Fed is not containing inflation effectively.
Apple Inc.
NVIDIA CorporationRates held steady, but inflation concerns push yields up.
10-year yield rises to 4.74% on inflation concerns.
