US Federal Reserve Chair Kevin Warsh signalled a major shift in central bank communication by adopting shorter policy statements and focusing more narrowly on inflation and price stability. His first policy meeting suggested reduced forward guidance, sparking expectations of future rate hikes while launching broader reviews of Fed operations and policymaking.

New Fed chair Kevin Warsh held rates but cut the statement to 130 words and dropped forward guidance. A central bank that now says far less.

Markets react strongly to the Fed chair’s communication style during the press conference