In his first appearance as chairman of the Federal Reserve, Kevin Warsh confirmed this afternoon the base rate will hold at its current level of 3.5% to 3.75%.
Taking over the title from Jerome Powell—who stays on at the Fed as a governor—Warsh said: “Economic activity is expanding at a solid pace, despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment [are] both strong. Job gains have kept pace with the workforce, and the unemployment rate has changed a little.”
