Kevin Warsh Declines to Signal Fed’s Next Rate Decision

Federal Reserve Chair Kevin Warsh said Oct. 16 he would not preview upcoming interest-rate decisions, leaving investors without a signal on the Fed’s next move as its policy meeting approaches.

Speaking at the annual meetings of the International Monetary Fund (IMF) and World Bank in Bangkok, Warsh declined to indicate whether the Fed would raise rates again at its Oct. 27–28 meeting or leave them unchanged. His remarks did not point to either outcome.

Warsh also said he would not disclose what action the Fed might take at its remaining meetings this year. He said he would not prejudge the decision at any individual meeting.

He pointed to the Fed’s September rate increase, saying the central bank had made clear its commitment to price stability while withdrawing some monetary policy accommodation. The comments tied the September move to the Fed’s price-stability goal but did not resolve the October decision. The Fed’s next scheduled policy meeting is Oct. 27–28.