Fed Chair Warsh Refuses Forward Guidance, Designating October and December as Key Rate Decisions

U.S. stock index futures and equities found modest relief after Federal Reserve Chair Kevin Warsh declined to provide forward guidance on upcoming interest rate decisions. Speaking in Bangkok alongside IMF Managing Director Kristalina Georgieva, Warsh announced the Fed will no longer preview policy decisions, stating incoming data will guide the October 27–28 and December meetings. This stance eased monetary tightening concerns stoked by September's CPI accelerating to 3.7%. Market odds for an October 25-basis-point hike fell to 15%, down from previous estimates of 27% to 33%, following September's rate increase to 3.75%–4.00%.