1409 ET - At his first meeting as Fed chairman, Kevin Warsh quickly began to make good on his promise to reshape Fed communications. After the meeting, the Fed released a much abbreviated policy statement that offers no forward guidance about what the Fed's next move might be. Instead, it tersely observes that "economic activity is expanding at a solid pace despite elevated uncertainty." This choice for concision circumvents a debate that had animated conflict at the Fed's April meeting: Whether to maintain or abandon an "easing bias" in the Fed's forward guidance despite rising inflation. (Now, there is simply no forward guidance at all). The new policy statement also omits a previous convention of naming how each Fed official voted. Instead, it just says that the statement itself was approved unanimously by the FOMC. (matt.grossman@wsj.com; @mattgrossman)
(END) Dow Jones Newswires
June 17, 2026 14:09 ET (18:09 GMT)
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