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Fed Chair Warsh Holds Rates, Proposes Cuts, Yields Hit 4.74%

8/10/2026

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Summary

Story summary

Federal Reserve (Fed) Chair Kevin Warsh left the policy rate unchanged despite headline inflation of 3.5% and core inflation of 2.6%.
Warsh launched five task forces on communication, balance-sheet use, data analysis, AI impacts and inflation, due by year-end.
Warsh proposed cutting Federal Open Market Committee meetings to eight per year, prompting bond markets to lift the 10-year Treasury yield to 4.74%.

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Story summary

Federal Reserve (Fed) Chair Kevin Warsh left the policy rate unchanged despite headline inflation of 3.5% and core inflation of 2.6%.
Warsh launched five task forces on communication, balance-sheet use, data analysis, AI impacts and inflation, due by year-end.
Warsh proposed cutting Federal Open Market Committee meetings to eight per year, prompting bond markets to lift the 10-year Treasury yield to 4.74%.