The Federal Reserve holds its target interest rate steady in the first policy meeting led by newly appointed chair Kevin Warsh. Multiple outlets report that the Federal Open Market Committee (FOMC) keeps rates unchanged for a fourth consecutive meeting, with PBS and Bloomberg noting that all members support the decision. Warsh’s debut includes a first news conference in which the Fed emphasizes price stability and signals a commitment to maintaining that objective. While the near-term policy action is unchanged, PBS and other coverage indicate that some Fed officials’ new quarterly projections point to the possibility of a rate hike later this year. Bloomberg also frames the meeting as an early test for Warsh amid concerns about rising inflation and President Donald Trump’s continued focus on lower borrowing costs. Other reports highlight uncertainty about how Warsh’s communications could move markets, including whether the Fed’s guidance about future rate moves changes. American Banker and Business Insider focus on what investors and bankers watch in Warsh’s remarks, particularly his statements about the timing and direction of potential future policy adjustments. Separately, Michael West reports the Fed’s statement under Warsh removes specific guidance about future rate moves.