Economic News

Jerome Powell has been designated chair pro tempore of the Federal Reserve Board effective 15 May 2026, serving as a bridge figure until Kevin Warsh is confirmed and sworn in as the incoming chair. The formal leadership handover, combined with a board resignation and the closure of legacy Credit Suisse enforcement actions, signals a period of institutional recalibration at the world's most influential central bank. For CFD traders, the interregnum introduces a layer of policy uncertainty that warrants careful attention to rate-sensitive instruments.

The Federal Reserve left interest rates unchanged at its June 2026 meeting, with Chair Kevin Warsh signalling a clear prioritisation of inflation control over near-term growth support. Warsh's departure from conventional Fed communication frameworks is drawing close attention from traders across asset classes. The next major catalyst arrives June 24 when annual bank stress test results are published.

The Federal Reserve left its benchmark rate unchanged at the June 2026 FOMC meeting, but an upward revision to the year-end dot plot projection — from 3.4% to 3.8% — signals policymakers see less room to ease than previously assumed. Chair Kevin Warsh reinforced the inflation-first mandate, stating the 2% target is non-negotiable until it is demonstrably achieved. Traders should expect sustained volatility in rate-sensitive CFDs, with the policy path now materially more hawkish than the March consensus.

Kevin Warsh chaired his first FOMC meeting on June 16-17, 2026, with the Federal Reserve keeping monetary policy unchanged and releasing updated economic projections. Markets were less focused on the rate decision itself and more on whether Warsh would signal a shift in communication style. Separately, softer-than-expected UK inflation data added a cross-Atlantic dimension to the macro picture for CFD traders.