Federal Reserve (FED) · Kevin Warsh · Crypto Briefing
Copper falls over 1% after new Fed Chair Kevin Warsh signals potential rate hikes
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Nine of eighteen FOMC members now project at least one rate increase before year-end, rattling commodity markets and risk assets alike.
Key facts
- The Fed held its benchmark rate steady at 3.5% to 3.75% on June 17, marking the fourth consecutive meeting without a change
- Kevin Warsh was sworn in as the 17th Chairman of the Federal Reserve on May 22, 2026, after being nominated by President Donald Trump and confirmed by the Senate
- The current federal funds rate of 3.5% to 3.75% is already elevated compared to the near-zero rates that fueled the 2020-2021 bull runs across both traditional and crypto markets
- Nine out of eighteen FOMC members projected at least one 25-basis-point rate hike before the end of 2026
Summary
Copper dropped more than 1% following the Federal Reserve’s latest policy meeting, where new Chairman Kevin Warsh’s first FOMC gathering delivered a surprisingly hawkish tone that sent tremors through commodity markets. The Fed held its benchmark rate steady at 3.5% to 3.75% on June 17, marking the fourth consecutive meeting without a change. Nine out of eighteen FOMC members projected at least one 25-basis-point rate hike before the end of 2026. That ambiguity, combined with the committee’s lean toward tightening, was enough to rattle traders.