Kevin Warsh became Fed Chairman on May 22, 2026, and has moved to dismantle the Federal Reserve's long-standing use of forward guidance (signaling future policy decisions). At the June 17, 2026, FOMC meeting, the committee removed explicit language about its expected policy path from its statement. Warsh argues that economic forecasts are unreliable and that prescriptive guidance can cause markets to price in policy too early, potentially amplifying bubbles and panics. His approach requires investors to respond more closely to incoming economic data rather than rely on advance signals from the central bank. The shift comes as inflation remains above the Federal Reserve's 2% target for more than 65 consecutive months as of August 2026, while the federal funds rate target remains 3.5% to 3.75%. Three policymakers dissented at the latest meeting in favor of a rate increase. Warsh has also created internal task forces on communication strategy, the Fed's balance sheet and inflation policy. His expected late-August address at the Jackson Hole Economic Symposium is set to outline the thinking behind the changes.