BlueBay CIO Mark Dowding said in a report that if Fed Chair Kevin Warsh abandons
forward guidance, the risk of market confidence evaporating would rise. He said
forward guidance has historically underpinned the Fed's credibility and that an
information vacuum would likely amplify market doubts. With US debt at record
highs and rising rapidly, a hands‑off approach to market direction could leave
significant vulnerabilities if confidence suddenly collapses.