Fed News Today: Warsh Wins the Chair as Inflation Puts Rate Cuts in Doubt
The Senate confirmed Kevin Warsh as Federal Reserve chair in a 54-45 vote. Fresh inflation data showed the Consumer Price Index up 3.8% year-over-year in April and wholesale prices rising 6.0%. Prediction markets now show a 70%–71% chance of no Fed rate cuts in 2026. Warsh is expected to preside over the June 16-17 Fed meeting.