Warsh Reshapes Fed Communication: Rejects Forward Guidance, Avoids Rate Path

CoinFeed, June 18 - According to Jinshi, in his first press conference as Fed Chair, Warsh previewed a series of reforms to be implemented at the Federal Reserve. A key change is the establishment of multiple task forces to explore more open data collection methods and study improvements to the Fed's existing statistical indicator system. During the press conference, Warsh repeatedly emphasized that he would not provide any forward guidance and avoided all questions about the future rate path. Additionally, he did not submit personal rate projections in this dot plot and stated he would not comment on any price fluctuations during the press conference. Overall, the core message from Warsh's first press conference is: reduce policy guidance to markets, downplay pre-commitment to a rate path, and focus more on reforming the Fed's institutional, data, and communication frameworks.