Fed Chair Kevin Warsh set for June 17 FOMC debut as policy tilt seen shifting from easing bias to neutral

The Federal Reserve is set to hold an FOMC meeting on June 17, with new Chair Kevin Warsh expected to steer a first change in the Fed’s policy language by shifting from an “easing bias” to a “neutral” stance. The shift would come as May CPI rose 4.2% year over year, a three-year high. The article says the change is unlikely to include an interest-rate move, but it could strengthen expectations for future hikes. It adds that this could pressure U.S. equities, which it describes as sitting at the second-highest valuation in history and relying on low-rate financing for AI data-center buildouts.