Warsh reiterates opposition to "forward guidance"

On October 29 that, according to Jinshi Data, Fed Chair Wosh reiterated at a press conference that he does not support the Federal Reserve using its so-called "forward guidance" to signal future interest rate paths and monetary policy directions to the market.

Wosh stated, "I do not agree with forward guidance unless an emergency or crisis occurs." He added that during the darkest days of the 2008 financial crisis, forward guidance played a considerable role, partly based on the research and views of a scholar who had just won a Nobel Prize.

However, he emphasized that during normal times, particularly in light of the current strong economic fundamentals, he neither agrees with nor supports the use of forward guidance.