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Fed Chair Kevin Warsh is weighing a fundamental break from the forward-guidance playbook that has anchored rate markets for years. James Bullard, former president of the St.
Louis Federal Reserve, said Warsh could move on policy without tipping his hand to markets first.
That style shift carries direct volatility consequences for traders who have positioned around the Fed's habit of broadcasting its next step well in advance. The Bullard signal The warning carries weight.
Bullard spent years inside the Federal Open Market Committee, watching in real time how chair communication shaped pricing across rate and risk markets.
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