Decision-Day Guide: Warsh faces first big test as Fed Chair

New US Federal Reserve Chair Warsh faces his first FOMC meeting amid rising inflation concerns, with energy prices spiking after the US war in Iran. Investors now see more than 80 percent odds of a Fed rate hike by December, and officials are expected to push back expectations for rate cuts into 2027. Economists also project significantly higher inflation in the upcoming dot plot, while the market watches for any signs of Warsh tilting toward White House pressure for lower rates.