The Fed's decision to hold interest rates in its June meeting was unanimous, though half of the FOMC members penciled in a rate hike before the end of 2026. Thomas Urano adds that new Fed Chair Kevin Warsh not being keen on forward guidance, along with refusal to drop his own dot on the projection plot, tells investors not to be overly reliant on future dot plots. He also explains what the Fed's task force on monetary policy means for the Fed's path ahead.

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