New US Federal Reserve chair Kevin Warsh will oversee his first meeting of the interest rate-setting committee next week, when investors will scrutinise his comments for guidance on borrowing costs and his political independence.
The central bank is widely expected to hold rates in the current range of 3.5 to 3.75 per cent. The next move is not fully priced in by the futures market until March 2027, when the Fed is expected to raise by a quarter of a percentage point.
The Fed committee, however, may choose to remove the “easing bias” expressed in its last statement, as inflation risks mount. Three regional Fed presidents dissented from the use of that language at the April meeting.
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