Two professionals review financial documents at a desk in a modern office with city skyline and sunset visible through large windows. Graphs and charts are spread across the table.

The Federal Reserve held rates steady at 3.50%–3.75% at Kevin Warsh’s first meeting as chair, marking the fourth consecutive pause in 2026. With May inflation running hot at 4.2% and the labor market stabilizing, the committee saw little justification for either a cut or a hike. Markets had fully priced in the hold, but the real focus now shifts to Warsh’s policy framework and how he plans to navigate a divided FOMC. For housing and
mortgage markets, the near-term outlook remains unchanged: expect volatility rather than relief, with 30-year fixed rates hovering in the mid-6% range and a higher-for-longer environment likely to persist until inflation
shows clearer signs of easing.

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