The Fed’s June post-meeting statement omitted any forward guidance on next steps. 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 ch

The Fed’s June post-meeting statement omitted any forward guidance on next steps. 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.