[Federal Reserve Mouthpiece: Warsh Must Prove 'Silence' Is More Powerful Than 'Explanation'] BlockBeats News, June 15 — This week's Federal Open Market Committee (FOMC) meeting marks Kevin Warsh's first meeting as Federal Reserve Chair. Although the market expects no changes to interest rates, Wall Street is closely watching his communication style to gauge the direction of future policies. Nick Timiraos, chief economics correspondent for *The Wall Street Journal* and often referred to as the 'Federal Reserve Mouthpiece,' wrote that in the current environment, Warsh's room for maneuver on interest rate decisions is limited. The Iran war has driven up energy prices, keeping inflation elevated, and discussions within the Fed have shifted from rate cuts to rate hikes. Against this backdrop, even if Warsh has different inclinations, it would be difficult to immediately alter the policy tone. Compared to interest rate tools, the communication mechanism is likely to be the area he prioritizes. While balance sheet reduction could take years, adjustments to the way information is released offer quicker operational flexibility. Timiraos concluded that for Warsh, some symbolic changes—such as whether to submit the 'dot plot'—can be implemented quickly, but truly transforming the communication system and operational model will require long-term persuasion and internal collaboration. [Original Link]