Warsh declines to outline Fed’s reaction function
Chair tells Jackson Hole that ‘humble, never naïve’ approach will work and assesses US economy
Kevin Warsh has rejected calls to explain the Federal Reserve’s reaction function during his keynote speech at Jackson Hole.
Speaking today (August 28) during the annual symposium organised by the Kansas City Fed, Warsh said that under his leadership, the US central bank should be “humble” but “never naïve”.
“Market participants will always try to anticipate what we will do next,” he said. “But we should not indulge a regime in which market participants are looking primarily to the Fed for their
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