At the press conference following his first FOMC meeting in June, Warsh announced several initiatives covering the Fed’s communications strategy, balance sheet, data sources, productivity and jobs, and inflation framework. Each is led by three outside experts drawn from academia and industry. The groups are expected to deliver preliminary findings this fall, with most wrapping up by year’s end.
The pace and ambition of the efforts signal that Warsh is serious. Whether it proves truly transformative remains an open question.
Watch the data, not the Fed
Of his five reform areas, communication has drawn the most attention, and Warsh moved on it…
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