The Financial Post reports in its Friday, June 19, edition that the Federal Reserve, under new chair Kevin Warsh, has voted unanimously to keep interest rates steady between 3.5 and 3.75 per cent for the fourth consecutive meeting. The Post's Paula Tran writes that new quarterly projections -- often referred to as the dot plot -- show that nine Fed officials anticipate a rate hike to 3.8 per cent by year-end and 3.6 per cent by the end of 2027. Eighteen of the 19 policy-makers submitted rate projections for the dot plot chart, with the missing dot confirmed to be Mr. Warsh's. The Federal Open Market Committee noted that inflation is high, but economic activity is growing despite uncertainties from the Middle East conflict. Strong gains in productivity and capital investment continue, and the labour market remains stable. Its statement also removed language previously used to flag the likelihood of rate cuts this year, but added "the committee will deliver price stability." Any guidance on future rate moves was also removed. The updated statement marks a turning point in the Fed's leadership and monetary policy after Mr. Warsh took the helm as Fed chair from Jerome Powell less than a month ago.