The Federal Reserve removed all references to 'easing bias' from its latest FOMC statement and halted forward guidance under new Chair Kevin Warsh. The Fed kept the benchmark rate unchanged at 3.50%-3.75% during its June 17 meeting, the first chaired by Warsh after succeeding Jerome Powell. Warsh declined to provide interest rate projections, breaking with predecessors, and the statement said the Fed will assess incoming data to decide future adjustments. The removal of easing bias suggests rate cuts are off the table for the foreseeable future, which could limit market gains as higher rates weigh on stocks.