The Federal Reserve’s New Chair Worsh Makes His Debut: Global Markets Wait in Bated Breath

In the early hours of June 18, Beijing time, Worsh, the newly appointed head of the Federal Reserve, will attend his first FOMC meeting since taking office. This is not a routine policy decision, but a high-suspense policy showcase.
Market consensus: this time, they will most likely stand pat, with interest rates unchanged. But the real point of focus is—how will Worsh “speak”?
This new chair is not a dovish type. Before taking office, he sharply criticized the Fed for “forecasts that miss the mark, too much communication, and overly loose regulation.” Now that he has the microphone, will he move immediately to reform?
MFS Chief Economist Weiseman predicts: Worsh may no longer use the “dot plot,” and may even reduce the frequency of press conferences. The reason is—he finds the Fed’s “talking too much.”
More importantly, his stance. Worsh previously made headlines by backing an AI-driven productivity boom, believing inflation would naturally ease. But now, his peers are widely leaning hawkish; if he were to directly “go dovish,” he would not only undermine his hawkish persona, but could also trigger a backlash within the committee.
Goldman Sachs’ view: while the threshold for rate hikes has been lowered somewhat, it is still difficult to implement in the short term. Expectations for rate cuts have been pushed back to 2027. The labor market remains resilient, and there are no signs that inflation shocks stemming from the Middle East conflict are broadening. The Fed’s most rational choice is—do nothing for now.
The biggest suspense is hidden in Worsh’s “communication philosophy.” He has stated plainly that economic forecasts are “ensnaring by one’s own making.” If, during this press conference, he keeps his mouth tightly shut and covers only the key points, it could shake the market more than the rate hikes themselves.
This debut isn’t about whether interest rates have changed—it’s about whether Worsh has changed. The bullets are still flying. 🎯