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Investors piled on bets for higher borrowing costs after Kevin Warsh opted against providing policy guidance at his first meeting as Federal Reserve chairman.
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The futures market now sees at least one interest rate increase this year, as the Federal Reserve's new leader, Kevin Warsh, vows to fight inflation.
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The June 19 federal holiday falls on a Friday this year. Here's how trading hours and other services are affected.
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Warsh plans to keep markets guessing his next move at the Fed.
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Kevin Warsh's debut Financial TimesWarsh Overhauls How the Fed Talks and Keeps Markets Guessing on Rates WSJFed holds interest rates steady and hints at future rate hike NPRStock futures rise as Wall Street tries to rebound from Fed-led sell-off; Intel leads chips higher: Live updates CNBC
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Nine of 19 officials who participate in Fed policy meetings penciled in at least one interest rate increase by year end, up from zero in March. It was Kevin Warsh's first as Fed chair.
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Businesses looking for any relief from the cost of debt were left wanting more Wednesday.
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The new Federal Reserve chair rolls out five task forces that will focus on the central bank's communications, inflation frameworks and more
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