The Federal Reserve announced on Wednesday that the first Federal Open Market Committee (FOMC) vote under new chair Kevin Warsh was unanimous in favor of a rate hold, as expected by the market consensus, while the latest economic projections showed nearly half of policymakers believe a rate hike will be warranted in 2026. “The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate,” the Federal Reserve said in their statement. “The Committee reaffirmed its policy of maintaining ample reserves in the banking system.” ... (full story)