New Federal Reserve chief repeats dislike of 'forward guidance'
Federal Reserve Chair Kevin Warsh says investors should pay more attention to economic data on whether the central bank raises interest rates.
New Federal Reserve chief Kevin Warsh gave no hint of whether the central bank would raise interest rates in July and repeated his dislike of so-called forward guidance to alert investors to future Fed actions.
Warsh made his remarks in Portugal on Wednesday at a forum that brought together top central bankers around the world.
Warsh took over as Fed chairman in May after being nominated by President Trump early in the year. He had previously served at the Fed during the global financial panic in 2008-2009.
Warsh is less likely to be as forthcoming as his predecessors in his public pronouncements on the economy. He has said he thinks Fed officials speak too much and confuse investors.
In somewhat of a surprise to Wall Street, though, Warsh sounded tough on inflation after his first major Fed meeting in mid-June. He promised to restore low and stable inflation and gave no hint of a possible interest-rate cut.
Trump had been loudly demanding lower interest rates for months before Warsh took over, but he's given the new Fed chairman some leeway.
-Jeffry Bartash
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(END) Dow Jones Newswires
July 01, 2026 09:17 ET (13:17 GMT)
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