New Fed Chair Slashed Forward Guidance by Half, Removing Market Certainty

What was said

"The words got cut from like 340 to 170. I might not be exact on that, but it got cut significantly, right? The actual guidance in terms of the words, which I think that is where you start, is you just kind of said that like, okay, that's one thing, but then that should signal other things."

Fed communications under Kevin Warsh have been dramatically shortened, roughly halving the word count from prior press conferences. This reduction in forward guidance creates more uncertainty and volatility in markets, forcing traders to rely more on raw economic data rather than Fed signaling about future policy direction.