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Open original source ↗I assume Warsh is sincere in getting rid of Forward Guidance (and as I have posted many times, I’m all for it), but then to have “Warsh adjacent” colleagues speculate (guess) to the FT to his thinking about next month’s meeting, is doing more to damage Fed/Warsh credibility than anything said, or not said, at last week’s presser.
If Warsh does not get them to stop reading his mind to the financial press, he should make them “former people familiar with his thinking.”
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These are the quoted author’s words.
FT: "Warsh would be prepared to raise interest rates at September’s meeting if inflation readings released in coming weeks are hot, and markets ratchet up their expectations for increases in borrowing costs, the people familiar with his thinking said."
annmarie ↗