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IMF chief economist says Fed reduction in rate guidance is 'entirely appropriate'
The IMF's chief economist, Pierre-Olivier Gourinchas, has endorsed Federal Reserve Chair Kevin Warsh's move to reduce explicit forward guidance on monetary policy. Gourinchas stated that overly rigid guidance proved costly when inflation surged, as it tied the Fed's hands. While acknowledging the need for some long-term market guidance, he believes explicit, strong commitments are no longer tenable, suggesting a more flexible approach is appropriate for central banks.
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cryptobriefing.com
Kevin Warsh's Federal Reserve is already reshaping the outlook for consumers and investors
New Fed Chair Kevin Warsh's hawkish tone and reduced forward guidance are reshaping the outlook for borrowing costs, markets, and crypto investors.
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Federal Reserve ditches forward guidance in biggest communication shift in over a decade
Fed Chair Kevin Warsh eliminates forward guidance in the biggest communication shift in over a decade. Bitcoin drops below $63K as markets adjust to
