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Warsh Unveils Fed Reforms and Steady Rates
The new Chair of the Federal Reserve, Kevin Warsh, announced plans for reforms including the establishment of task forces to review the central bank's practices, along with suspending the issuance of forward guidance on monetary policy, all aimed at ensuring price stability. With interest rates held within the range of 3.50% to 3.75%, forecasts suggest that the rate will reach 3.8% by the end of 2026, with a 25 basis point hike possible this year. Warsh’s statements come amid geopolitical crises and mixed economic data, at a time when the oil market is under pressure, as prices dropped to their lowest in three months following a peace agreement between the United States and Iran, giving the Federal Reserve greater flexibility in its monetary policy.
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