A June interest rate pause comes with an abrupt policy change that strips away long-term market clarity. The Federal Open Market Committee (FOMC) omitted forward guidance from its June rate statement , leaving the federal funds target range unchanged. “It’s a bit shorter, a bit simpler, and it dispenses with some of the older language,” Federal Reserve Board Chair Kevin Warsh said during the press conference following the statement’s release. “That statement just gives you the facts as best as