Kevin Warsh said the Fed's pullback from forward guidance allows the central bank to listen to market signals rather than unilaterally shape expectations. He noted recent rises in U.S. Treasury yields reflect stronger fundamentals—solid output, robust capital spending and productivity, and a stable, resilient labor market—and said the bond market is conveying the same message.

2026-07-30

Kevin Warsh said the Fed's pullback from forward guidance allows the central bank to listen to market signals rather than unilaterally shape expectations. He noted recent rises in U.S. Treasury yields reflect stronger fundamentals—solid output, robust capital spending and productivity, and a stable, resilient labor market—and said the bond market is conveying the same message.