"The bottom line is that an important part of the Fed’s credibility is not just to say that it has certain goals but also to explain how it will achieve those goals."

Kevin Warsh kept rates unchanged, but his rejection of a "soft" inflation target and new approach to Fed communication sent stocks, bonds, gold and the dollar swinging.

Federal Reserve Chairman Kevin Warsh repeatedly said Wednesday that the central bank is committed to reining in inflation.

Federal Reserve Chairman Kevin Warsh's communication style has raised investor concerns about inflation. Analysts now anticipate a December interest rate hike following his recent…

By Jeffry Bartash and Joy Wiltermuth

By Craig Torres and Fabio Natalucci