The US central bank left interest rates unchanged on Wednesday, June 17, in the range of 3.5 to 3.75 percent. It was the first meeting of the Federal Reserve System under the leadership of Kevin Warsh, whom President Donald Trump appointed to head the institution. Le Monde ↗
The decision means Trump did not get the rate cut he had repeatedly demanded from former Fed chief Jerome Powell. According to available information, however, he is currently not bothered by either keeping rates unchanged or a possible increase, as long as Powell is no longer chair of the central bank. Warsh also signaled his intention to reshape how the institution operates. Independent ↗
The Fed made its decision amid uncertainty tied to developments surrounding Iran, energy prices, and inflationary pressures. Although rates remained unchanged, some central bank officials expect a possible increase before the end of the year. Some sources indicate that nine of the eighteen members of the monetary committee expect at least one rate hike in 2026. n-tv ↗
Financial markets reacted with a decline. The Dow Jones index lost approximately 500 points, marking the worst day for the debut of a new Fed chief since 1994. The broader S&P 500 index and the tech-heavy Nasdaq also fell. Independent ↗
Further developments will depend mainly on inflation, energy prices, and whether Warsh can maintain the central bank's independence despite political pressure from the White House. El Mundo ↗
Fed left interest rates unchanged at Warsh's premiere
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This summary was generated by artificial intelligence. It may contain inaccuracies. Please verify information in the original sources below.
Sources (3)
‘Whatever’: Trump now OK with Fed holding or raising rates as long as Powell not chair
Independent
| 21:56 17.06.
US-Notenbank: US-Notenbank lässt Leitzins unverändert
Die Zeit
| 20:06 17.06.
Premiere des neuen Fed-Chefs: "Mir egal": Trump muss weiter auf gewünschte Zinssenkung warten
n-tv
| 00:51 18.06.
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