Don't Rely on Dot Plot: Thomas Urano on What to Watch in Kevin Warsh's Fed

• Fed held rates steady but showed a hawkish shift with shorter statements and increased hike expectations.
• New Fed Chair Kevin Warsh prioritizes inflation and advocates for less forward guidance and greater flexibility.
• Warsh stated the 2% inflation target is non-negotiable and highlighted task forces to review communications and data sources.

The Fed held rates steady but signaled a hawkish shift with shorter statements and increased hike expectations. New Fed Chair Kevin Warsh emphasized inflation as the top priority, advocating for less forward guidance and greater flexibility. He also highlighted task forces to review communications and data sources, urging investors to focus on incoming data rather than Fed responses.