[Walsh Pledges to Uphold Federal Reserve Traditions While Seeking Change] According to a report by Jinse Finance, on June 3, Federal Reserve Chairman Walsh delivered an inaugural address to over 20,000 Fed employees as he began his four-year term. He pledged to uphold the 'Federal Reserve's fine traditions' while stating that he would conduct a comprehensive review to identify areas for improvement. This memo provides an initial glimpse into Walsh's direction: he aims to advance what he calls a comprehensive reform agenda, believing that the Fed has strayed from its mission. At the same time, he seeks to mend relationships with colleagues and employees whose work he has previously criticized. In the memo released on Tuesday, Walsh stated: 'Our top priority is to formulate the right policies to fulfill our responsibilities and serve the national interest. We will ensure an environment that supports employees in performing at their best.' Walsh added, 'If better alternatives are found, we will not be bound by past practices. In the coming quarters, I look forward to open and pragmatic discussions about the Fed's strategies, policies, and operations.' Additionally, according to a source familiar with the new chairman's initial personnel appointments, Walsh has appointed two conservative analysts to provide advice during the transition period as he takes over from former Chairman and current Governor Powell. These appointments are reportedly temporary contract positions aimed at assisting Walsh in planning his initial priorities after taking office. (Sina Finance)