Fed Chair Kevin Warsh Drops Forward Guidance, Bitcoin Slips as Nasdaq Rises 1.5%

Federal Reserve Chair Kevin Warsh used his first press conference on June 17 to abandon long-standing central-bank messaging practices, leaving markets to reassess the outlook for rates, risk assets and bitcoin. The Fed held the federal funds rate at 3.50% to 3.75% after its June 16-17 meeting while signaling less about what comes next. Investors spent June 18 repricing that uncertainty across markets.