Fed Chairman Kevin Warsh Fails to Limit Official Communications
Federal Reserve Chairman Kevin Warsh is struggling to reduce the frequency of public comments from Fed officials regarding interest rate trajectories.
Kevin Warsh has attempted to reduce the frequency of public communications from Federal Reserve officials regarding interest rate trajectories since taking office in May. Warsh prefers a more reserved approach to public commentary, but his colleagues have not adopted this strategy.
A Wall Street Journal tally indicates that 16 Fed officials provided 59 speeches, interviews, and public comments between the previous meeting and the current quiet period. This volume of communication is nearly identical to the 54 comments made during the same period a year ago.
Economists observe that other officials continue to fill the communication void whenever Warsh remains silent, maintaining a level of public discourse that resists the chairman's efforts to limit transparency on rate trajectories.
