Warsh's Commitment to Inflation Fight Sparks Market Slide

(Bloomberg) -- Wall Street traders gearing up for the Federal Reserve decision refrained from making big moves as they waited to see whether new Chair Kevin Warsh will validate…

New Fed Chair Kevin Warsh scrapped forward guidance and vowed to deliver price stability in his debut. Stocks fell and gold tumbled 3.4%.

By Joseph Adinolfi and Joy Wiltermuth

By Joseph Adinolfi and Joy Wiltermuth

Kevin Warsh's first Federal Reserve meeting as chair saw interest rates held steady, but a shift away from forward guidance blindsided traders. New projections and Warsh's…