Out: Forward guidance In: Task forces The new Fed chairman put his stamp on the *process* of the Fed, but the market cares about what the Fed will do. With little guidance from the chair, his broad commitment to deliver price stability and the committee's rate projections teeing up a rate hike later this year led markets to dial up bets on a July rate rise https://www.wsj.com/economy/central-banking/fed-holds-rates-steady-but-more-see-higher-rates-as-next-move-bd700510?st=idUZRr&reflink=desktopwebshare_permalink(Nick Timiraos)