Fed Chair Warsh Starts Term by Establishing Task Forces to Look at Multiple Monetary Policy Aspects

03:12 PM EDT, 06/17/2026 (MT Newswires) -- Federal Reserve Chair Kevin Warsh announced Wednesday at a press conference that he is creating task forces to look at a variety of topics related to monetary policy.

"I'm appointing a task force in each of five areas that are central to the broad conduct of monetary policy -- first, Fed communications," Warsh said. "Second, the Fed's balance sheet. Third, our use and reliance on existing data sources. Fourth, productivity and jobs in an era of transformation. And last, the Fed's inflation frameworks."

However, Warsh said that the Fed's 2% inflation goal is currently not under consideration for a change.

"I see no reason, until we have reestablished our commitment and ability to deliver on the 2% inflation objective, to revisit that," Warsh said. "So that'll be outside the scope of what we're taking on."

Warsh made his comments after the Federal Open Market Committee meeting, where the FOMC trimmed the size of its policy statement while holding its federal funds rate steady, removing forward guidance on rate moves.

The updated Summary of Economic Projections shows a shift toward rate hikes due to sharply higher inflation expectations. Nine participants expected higher rates by the end of the year, eight see no change and one sees lower rates.

Warsh has been an opponent of forward guidance and said that the current level of uncertainty makes it even less useful. As a result, Warsh said that he did not submit any forecasts for the SEP.

He repeated the FOMC's language that the FOMC remains committed to delivering the price stability and acknowledging the current level of inflation is above the 2% target in part due to supply shocks from the conflict in the Middle East.

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