Will Warsh explicitly say in a press conference that policy is not sufficiently restrictive?

Warsh has held the funds rate at 3.50 to 3.75 percent since June 17 and the June SEP raised the year end 2026 median to 3.8 percent with nine participants projecting rates above the current range, indicating the committee still views policy as appropriately restrictive. Historical precedent shows chairs rarely label policy insufficiently restrictive while the target range is unchanged and the median dot plot signals further tightening or stability. Warsh's post meeting statements have emphasized data dependence without signaling that the current stance is too loose.