Warsh Overhauls How the Fed Talks and Keeps Markets Guessing on Rates

Kevin Warsh used his first meeting as Federal Reserve chairman to put his stamp on how the central bank operates and communicates.

He trimmed its policy statement, declined to submit a rate forecast of his own, and launched five task forces to study everything from how the Fed communicates to how it analyzes the economy—a sweeping reach into how the central bank operates.