Kevin Warsh said he will not disclose details of future Federal Open Market
Committee (FOMC) rate decisions or provide forward guidance. He called today’s
rate decision careful, serious and responsible, and said the Fed had been
preparing and deliberating for about 110–120 days. Warsh said the decision was
based on the Fed’s assessment of current conditions, employment trends and
economic strength, not driven by market forces. He added that markets sometimes
try to anticipate policy and that he watches market prices for information, but
today’s decision was made independently.
