1 Day
Source:
المشهد العربي
Warsh prompts Fed to drop guidance
The Federal Reserve Chairman, Kevin Warsh, announced that he would be the sole member abstaining from issuing his own forecasts regarding future policies, noting that the Open Market Committee has decided to abandon forward guidance on monetary policy. He emphasized that this approach is no longer suitable for dealing with the current economic conditions. He also confirmed that the statement was characterized by simplicity and a focus on concrete data, as the Council preferred not to rely on forward guidance again.
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