New Fed Chair Kevin Warsh Holds Rate at 3.25% and Launches Five Task Forces as Balance Sheet Stands Near $6.7 Trillion

Federal Reserve Chair Kevin Warsh kept the benchmark rate at 3.25% at the June 17 FOMC meeting and launched five task forces to review Fed communication, operations, balance sheet policy, and inflation measurement. Warsh said the effort aims to change how the Fed signals policy, while noting the balance sheet is about $6.7 trillion.