Kevin Warsh Confirmed as Federal Reserve Chair Amid Changing Rate Cut Odds

The U.S. Senate has confirmed Kevin Warsh as the new chair of the Federal Reserve. According to NS3.AI, this confirmation comes as the odds of a rate cut before 2027, as predicted by Kalshi, have decreased significantly to 38.2% from 96% in February. Warsh is expected to be sworn in on Friday, with the next Federal Open Market Committee meeting scheduled for June 16. The CME FedWatch tool indicates a 98.8% probability that interest rates will remain between 3.50% and 3.75% through the end of June. Additionally, there is more than a 94% chance that rates will not change through July.