Will any FOMC voting member publicly warn that inflation expectations risk becoming de-anchored during H2 2026?

The June 2026 SEP already shows nine of eighteen participants projecting a 2026 year end funds rate above the current 3.50 to 3.75 percent target range, and Chair Warsh's June 17 statement erased the prior cutting bias, indicating a willingness to tolerate tighter policy to contain inflation risks. With the median SEP projection for the 2026 year end rate rising from 3.4 percent in March to 3.8 percent in June, the committee is already signaling heightened vigilance on inflation dynamics. Historical episodes such as 2018 show that voting members issue explicit warnings about de anchored expectations when the SEP median shifts upward and the Chair's bias turns restrictive, conditions now present.