Fed Holds Rates, Dot Plot Signals Hawkish Shift; $440M in Crypto Liquidated on June 17

Kevin Warsh held the federal funds rate steady at 3.50% to 3.75% on June 17, 2026, but the dot plot reversed sharply. Nine of eighteen Federal Reserve officials now project at least one rate hike in 2026, with six forecasting two hikes. The median end-2026 rate rose to 3.8% from 3.4% in March. The Fed dropped its easing bias and Warsh abandoned forward guidance, anchoring the statement to price stability.

Crypto markets fell 1% to 3% following the announcement. Bitcoin traded near $63,900 and XRP dropped over 4%. More than $440 million in crypto futures were liquidated across exchanges in the 24 hours after the decision, with most positions being bullish longs.