PANews, June 18 – According to Jinshi reports, during his first press conference as Federal Reserve Chair, Warsh previewed a series of reforms to be implemented at the Fed in the future. One key change is the establishment of multiple specialized working groups to explore more open data collection methods and study how to improve the Fed’s existing statistical indicator framework. At the press conference, Warsh repeatedly emphasized that he would not provide any forward guidance and sidestepped all questions regarding the future interest rate path. In addition, he did not submit personal interest rate projections in this dot plot and stated he would not comment on any price fluctuations in the market during the press conference. Overall, the core message conveyed in Warsh’s first press conference is: reduce policy guidance to the market, downplay pre-commitments to the interest rate path, and devote more energy to reforming the Fed’s institutional, data system, and communication frameworks.