Federal Reserve Chair Kevin Warsh said the Fed will not provide forward guidance and will set a new policy direction to enable better decision‑making.
Warsh promised that the Fed under his watch would “chart a new course” but offered no details on what that involves, including whether he thinks an interest rate hike is imminent.
“There’s a lot of late breaking news on a series of these things, and we get into that room and shut the door, we’re going to have the good debate,” the central bank leader said. “But I don’t have much more for you than that.”
Earlier, Warsh praised ECB President Christine Lagarde, who expressed her own opposition to the type of “forward guidance” that the Fed chairman disdains.
“I liked her when we met 20 years ago when she was finance minister. After that answer, I love her,” he said.
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