Fed's Warsh Holds Rates Steady, Signals Hike Risk While Vowing to Hit 2% Inflation Target

Fed Chair Kevin Warsh held interest rates steady at his second FOMC meeting on July 29, 2026, while signaling potential rate hikes later this year. At his press conference, Warsh declared, "We will deliver the 2% inflation target." The gap between that hawkish rhetoric and holding rates puts the burden on the Fed's next moves.