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President Trump's handpicked successor to Jerome Powell is removing transparency from the central bank -- and that's a big deal for a pricey stock market.
Warsh's first Fed day is the worst for a new chair since 1994. Trump wanted cuts. He got a rate hike threat.
Stocks tumbled on Wednesday after Kevin Warsh’s first press conference as chairman of the Federal Reserve. Warsh said he wasn’t concerned with the market’s reaction to his debut, which is for the best, given the Dow Jones Industrial Average slid 1% while the S&P 500 fell 1.2% and the Nasdaq Composite lost 1.3%. Interest rate increases are one of Wall Street’s concerns, and those seem to be on the table, potentially as soon as this fall, opines Capital Economics’ Chief North America Economist Stephen Brown.
Wall Street eyed the odds of Hormuz reopening after the interim US-Iran peace deal went into effect, and weighed signs the Fed is starting to lean toward a rate hike.
Wall Street eyed the odds of Hormuz reopening after the interim US-Iran peace deal went into effect, and weighed signs the Fed is starting to lean toward a rate hike.
Wall Street eyed the odds of Hormuz reopening after the interim US-Iran peace deal went into effect, and weighed signs the Fed is starting to lean toward a rate hike.
Wall Street eyed the odds of Hormuz reopening after the interim US-Iran peace deal went into effect, and weighed signs the Fed is starting to lean toward a rate hike.
US stock futures edged up as Wall Street digested the interim peace deal between the US and Iran as well as the latest Federal Reserve decision on interest rates.
<body><p>STORY: U.S. stocks ended lower on Wednesday, as the Dow dropped about 1%, the S&P 500 shed 1.2% and the Nasdaq slid about one-and-a-third percent. </p><p>Kevin Warsh held his first press conference as Federal Reserve Chair on Wednesday after the central bank wrapped its June policy meeting. The Fed left interest rates unchanged, as expected, but new projections showed nine central bank officials expect at least one rate hike by the end of 2026. </p><p>Warsh himself did not submit an interest-rate-path projection, noting that the central bank would scale back on offering forward guidance. </p><p>Brian Mulberry is chief market strategist at Zacks Investment Management.</p><p>"The market's just kind of digesting, I think, a lot of this right now, as we all probably need to sleep a couple of nights on this and figure out what's going to happen next. But I think what you're going to find out is that the Fed is just going to come back to providing stable monetary policy over a long period of time and stop trying to forecast so much what's going to happen month to month, meeting to meeting, and where interest rates should go is simply down to around 2.5 or 3.5%, stay there, so that inflation can be about 2 to 2.5% over a long period of time."</p><p>::Archive</p><p>Meanwhile, oil prices edged back up on Wednesday after President Donald Trump said the agreement with Tehran on the Iran war was not final and that the conflict could resume if he is unsatisfied.</p><p>Among individual stock moves, CME Group slipped about 3.5% after the exchange operator said its CEO will step down on March 1 and transition to the role of executive chairman.</p><p>And shares of Allbirds soared 39% after the footwear maker-turned-AI company changed its name to Smartbird and appointed former Amazon executive Nadia Carlsten as CEO.</p></body>
Stocks suffered broad, sharp losses on rate hike bets after the first Warsh Fed meeting. SpaceX fell for the first time while Robinhood jumped.
(Updates with index/price moves, FedWatch outlook, macro data, and political/company news from the f
The Dow Jones Industrial Average fell from record highs Wednesday as markets reacted to the Federal
US equity indexes were lower on Wednesday as government bond yields rose and the Federal Reserve ann
U.S. stocks dropped on speculation the Federal Reserve may raise interest rates this year to keep a lid on inflation. The S&P 500 slumped 1.2% Wednesday after the Fed released projections showing nearly half its policymakers foresee at least one increase to its main interest rate this year. The Dow Jones Industrial Average went from a gain of 0.5% in the morning to a drop of 1%, while the Nasdaq composite sank 1.3%.
US stocks (^DJI, ^IXIC, ^GSPC) ended Wednesday's session in negative territory after Federal Reserve officials unanimously voted to hold interest rates at their June FOMC meeting today, while also forecasting at least one possible rate hike ahead. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the trading day's market reactions to the Fed's big decision. This was Kevin Warsh's first FOMC meeting he presided over as the new chairman of the Fed.
(Updates with index/price moves and macroeconomic news from the first paragraph.) US equity index
Stocks fell to session lows after Kevin Warsh wrapped up his first press conference as Fed chairman. The Dow fell 410 points, or 0.8%. The S&P 500 fell 1.1%. The Nasdaq dropped 1%. Warsh signalled big changes could be coming to how the central bank communicates, but he mostly said changes will be made after convening various task forces.
Stocks were lower again as Kevin Warsh didn’t seem particularly interested in the market’s reaction to his first press conference as Fed chairman. “This is a lot of change for financial markets to digest,” Warsh said, referring to efforts to reshape the central bank. Warsh said he plans to form task forces to better deliver on the Fed’s goals.
Dow Hits Milestone High as Investors Watch Fed and Iran Developments
Stocks remained lower after Federal Reserve Chairman Kevin Warsh began his first press conference in the role. The Nasdaq was down 0.5%. Warsh began by saying he was welcomed by fellow bankers, who he says he’s listened closely to for “a lot of new ideas, new thinking, and genuine interest in moving the Fed forward.”
Fed policymakers now see no interest rate cuts in 2026 after previously projecting one cut for this year back in March. Officials estimate their target range for the federal-funds rate will be 3.8% at the end of 2026, unchanged from its current level, according to the so-called "dot plot" from the Fed's latest Summary of Economic Projections released Wednesday. Notably, nine officials projected the Fed’s benchmark interest rate to be higher than it is today by the end of the year.
(Updates with latest market prices and developments.) US benchmark equity indexes were mixed intr
(Updates with index/price moves and political/macroeconomic news from the first paragraph.) US eq
The stock market was rising ahead of Kevin Warsh’s first Federal Open Market Committee meeting press conference. The Dow was up just 135 points, or 0.3%, after hitting another record on Tuesday. The Nasdaq was up 0.4%.
June 17 (Reuters) - The main U.S. stock indexes opened higher on Wednesday, as chip stocks rebounded ahead of the first interest rate decision under new Federal Reserve Chair Kevin Warsh.
Stock Market Today: The Dow Jones index wavered Wednesday ahead of the Fed's decision and Fed Chair Warsh's comments. SpaceX stock rallied.
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