June Fed minutes show officials considered KEVIN WARSH’s proposal to end forward
guidance and trim references to future rate moves. A majority backed shortening
the policy statement and supported deleting language that suggested the next
move would likely be a cut. The June alternative approved by the Fed removed
rate entirely guidance, consistent with Warsh’s aim to avoid committing on
future rates. At the June meeting the Fed held the policy rate at 3.50%-3.75%;
the dot plot showed nine of 18 officials expect rates to be slightly higher by
end-2026, and markets widely saw the possibility of hikes this year.
