According to The New York Times, the newly appointed Federal Reserve Chair Kevin Warsh held his first policy press conference since taking office on Wednesday.


During the meeting, Warsh demonstrated a communication style different from his predecessor Powell's "plain and understandable" approach, instead adopting a more political and industry jargon-filled communication strategy, frequently mentioning "first principles," "alternative frameworks," and the Fed's "remit."
Warsh revealed that he was the only Federal Reserve official among the "dot plot" participants to refuse to submit a forecast for future borrowing costs, and reiterated that the Fed's core focus moving forward is achieving "price stability."
In response to previous market concerns that he might become a "puppet" of President Trump, who demanded rate cuts, Warsh indirectly addressed this by refusing to predict the direction of interest rates and being vague about how to lower inflation.
Trump's reaction to the Fed's decision to keep interest rates unchanged after the press conference was lukewarm, but he expressed support for Warsh.
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