The Fed’s June post-meeting statement omitted any forward guidance on next
Fed official Wosh said forward guidance is "not well suited to the
current policy juncture" and has previously criticized forward guidance and
quarterly economic forecasts for risking a locked-in rate path. He has launched
five task forces to review Fed communications, the data inputs used for policy
decisions and the inflation assessment framework, aiming to keep the Fed
"clear-headed and forward-looking." KPMG chief economist Diane Swonk said the
task forces signal Wosh is seeking consensus rather than imposing change by
decree.
