Warsh Is Wise To Ditch the Dots
3 Articles
3 Articles
The Price of Fed Silence
Markets almost never function better when participants know less rather than more. Yet that is where the growing campaign against Federal Reserve forward guidance ultimately leads. Federal Reserve Chairman Kevin Warsh has argued that the Fed should speak less, publish fewer clues about its future intentions, and move away from many of the communication tools developed over the last three decades. As he told the Senate Banking Committee, “Unlike …
Jackson Hole's symposium comes this year with a Federal Reserve (Fed) that is hard to read and interpret. A few weeks from the quote that usually serves to infer the direction of US monetary policy and the dollar, investors face a paradox: inflation remains above the 2% target, but the labor market has cooled down and growth keeps pace.At the center of all eyes is Kevin Warsh and his new way of managing Wall Street's expectations.Managing Muzini…
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