SUMMARY OF FED CHAIR WARSH'S STATEMENT: 1. Fed to eliminate 1 interest rate-setting vote beginning in Fall 2027 2. Fed expects to hold just 6 policy-setting meetings in 2028, down from 8 currently 3. Overwhelming consensus is that the "monetary medicine is starting to work" 4. Warsh says he is "unwilling and unable" to call financial conditions tight 5. Warsh says that inflation remains elevated in the US 6. The Fed awaits more information in determining policy path The Fed is now in "wait and see" mode.