Fed Chair Kevin Warsh Is Considering Fewer Annual FOMC Meetings, Which Would Be Disastrous for Wall Street

When Kevin Warsh was sworn in as Fed chair on May 22, he promised to lead a reform-oriented Fed and repair perceived mistakes made since the financial crisis. Continue »Fed Chair Kevin Warsh has proposed major changes to America's foremost financial institution. Removed forward-looking guidance from Federal Open Market Committee (FOMC) meeting statements (a break of a more-than two-decade tradition). Reducing transparency has its limitsArguably, the most fundamental change to Warsh's early tenure was his removal of forward-looking guidance. He also believes that the lack of forward-looking guidance gives policymakers more freedom to act, rather than being confined to previously outlined projections.