Warsh Fed's First Rate Call: July 29

Kevin Warsh's first Fed rate decision lands July 29 at 2:00 p.m. ET, with a press conference at 2:30. The federal funds rate — the overnight lending rate banks charge each other — sits at 3.50–3.75%. The WSJ reports market reaction may hinge on whether officials dissent, a signal of cohesion or fracture under new leadership.