Major averages tumbled as treasury yields jump following the latest decision and statements from the Federal Reserve. Brian Sullivan and Kelly Evans are in Washington to digest the stock and bond market reactions to this month’s interest rate decision from the Fed. In his first press conference as Chairman, Kevin Warsh announced he will create five new task forces to overhaul the Federal Reserve’s operations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Federal Reserve keeps rates unchanged in Kevin Warsh’s first FOMC Meeting as Chairman 6/17/26

Power Lunch

All right, welcome, but welcome back, everybody. We've got a huge hour ahead for the markets and your money. This is our special Fed coverage live here in Washington, D.C. I am Brian. She is Kelly. We are less than what, about five minutes away. The Federal Reserve, Kevin Warsh, as the new chairman's first decision on rates, let's be clear, nobody, nobody expecting a rate cut today, but all eyes are going to be on Kevin Warsh delivering that first major message on inflation, markets, and the path ahead.

Quick glance at the market so you can see the setup going into this. We have slight gains across the board. Best performer is the Dow, helped as we have been seeing. It's a third straight record for the Dow, but let's not get ahead of ourselves because we have yet to hear from the new Fed chair. Small caps leading the way up 1.3 percent.

There we go. All right. So let's turn now to our all-star panel again, just a few minutes away from the Fed decision. Joining us, David Kelly of JPMorgan Asset Management, Francis Donald of RBC Capital Markets, and Claudia Sam of New Century Advisors, both on set. David, I'll start with you there stuck at the NASDAQ in New York City. What do you expect? Not in rates, nothing's going to happen, but how do you expect Warsh to do today?

Well, I think he's going to try and bring consensus, actually, even though he says he likes a bit of a fistfight. I don't think he really does. I think you'll see a 12-0 vote in favor of what they do today, which is going to be no change. I think you start with a summary of economic projections.

Federal Reserve keeps rates unchanged in Kevin Warsh’s first FOMC Meeting as Chairman 6/17/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Federal Reserve keeps rates unchanged in Kevin Warsh’s first FOMC Meeting as Chairman 6/17/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.