Kevin Warsh called policy uneven for housing, ended dot plot guidance and launched a Fed task force as the 10-year yield sits near 4.50%.

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

The Senate confirmed Kevin Warsh on Wednesday to succeed Jerome Powell as chairman of the Federal Reserve, sparking hopes within the mortgage industry for less volatility as Warsh takes the helm of the central bank.