Kevin Warsh, who took over as Fed Chair in June 2026, has stripped forward guidance from policy statements, triggering a strong market backlash. On July 29, 2026, the FOMC held rates steady at 3.50% to 3.75%, but it was the absence of signals about future policy that rattled investors. Market volatility has surged as participants must now interpret economic data without the Fed’s usual framework. Bitcoin rose above $60,000 following Warsh’s comments on July 1, highlighting the extreme sensitivity of crypto markets to his statements. Warsh, described as relatively crypto-friendly, has confirmed that post-meeting press conferences will continue through the end of the year.
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