Fed Chair Warsh Refuses to Signal Rate Decision Before Meeting

Kevin Warsh, chair of the US Federal Reserve, said policymakers will decide on interest rates only when they convene their next meeting.

• Warsh told a forum in Portugal that he would provide no forward guidance, stating the Fed "enters that room and closes the door."
• The remarks were his first since the Fed's June 16–17 monetary policy meeting.
• Investors had raised the likelihood of a September rate hike after Warsh's previous comments.
• The European Central Bank has already raised interest rates, while the Fed has held steady.