The Federal Reserve on Thursday outlined a slate of five new task forces led by prominent academics and business leaders. They will scrutinize how the central bank communicates, manages its balance sheet, interprets veri, evaluates productivity and jobs, and responds to inflation.

BofA forecasts three quarter-point Fed hikes in 2026, but market pricing and a 10-year yield near 4.51% argue for 0 to only one rate hike.

Federal Reserve Chair Kevin Warsh’s new framework for the U.S. central bank carries significant implications for the mortgage industry and broader housing market.

Markets expect the Fed to hold rates, but Warsh’s June 17 debut press conference and continued high inflation will shape expectations.