[Waller: The Federal Reserve Needs a Completely New Inflation Framework] Jin10 News, April 21 – Federal Reserve Chair nominee Waller stated that if appointed and placed in charge of the Federal Reserve, he would push for comprehensive reforms in policy-making. Waller told the Senate committee: 'In my view, the Federal Reserve needs fundamental policy reforms. The missteps in addressing inflation during the COVID-19 pandemic necessitate such reforms. I believe this means a shift in how policies are implemented. I think it means we need a different, completely new inflation framework.' Waller emphasized that we need new tools and new communication methods, mentioning forward guidance, economic forecasts, and the dot plot. He also stated that the Federal Reserve should wait until meetings to issue statements, as forecasts could hinder decision-making.