Nine of 19 officials who participate in Fed policy meetings penciled in at least one interest rate increase by year end, up from zero in March. It was Kevin Warsh's first as Fed chair.
Officials at the Federal Reserve were split between no cuts this year and one or more rate increases as they braced for higher inflation, according to a new set of projections.
Kevin Warsh takes questions from reporters for the first time since taking over as Chairman of the Federal Reserve. Warsh and his colleagues are expected to hold interest rates steady today.
