At his first press conference as Fed chair, Wosh announced reforms including multiple task forces to broaden data collection and review the Fed’s statistical indicators. He repeatedly refused to provide forward guidance and declined to answer questions on the future path of interest rates. He did not submit a personal rate projection to the dot plot and said he will not comment on any market price moves during the press conference. Core message: reduce policy signaling to markets, avoid pre-comm

At his first press conference as Fed chair, Wosh announced reforms including multiple task forces to broaden data collection and review the Fed’s statistical indicators. He repeatedly refused to provide forward guidance and declined to answer questions on the future path of interest rates. He did not submit a personal rate projection to the dot plot and said he will not comment on any market price moves during the press conference. Core message: reduce policy signaling to markets, avoid pre-committing to a rate path, and focus on institutional, data and communication reforms at the Fed.