Warsh Expands Longstanding Critique of Fed Forward Guidance, Lays Out Seven Policy Principles

Federal Reserve Chairman Kevin Warsh used his Jackson Hole speech Friday to expand on a longstanding critique of forward guidance, arguing that the central bank should rely less on efforts to tell markets where policy is headed and more on

Federal Reserve Chair Kevin Warsh used his first Jackson Hole address on Friday to argue that financial conditions are not restrictive and that underlying inflation has not meaningfully improved, a hawkish assessment that strengthens the case for a rate hike, while ruling out forward guidance.