Wall St Week Ahead-Newly led Fed poses wildcard for rockier US indexes

US stock indexes have pulled back from record highs ahead of the Federal Reserve's policy meeting led by newly appointed Chair Kevin Warsh, with the S&P 500 down over 2% and Nasdaq down about 4.5% from June 2 peaks. The Fed is widely expected to hold rates steady on Wednesday, but rising consumer inflation—running at its fastest pace in three years—and solid employment data have raised expectations of rate hikes later this year. Investors will closely scrutinize Warsh's first press conference and the Fed's updated economic projections for signals on the policy path, while volatility gauges have hit two-month highs amid significant daily swings.