Walsh said that the Federal Reserve will open up a new path and reiterated that it will not provide forward guidance According to Golden Finance, on July 1st, Federal Reserve Chairman Walsh reiterated that he would not provide "forward guidance" on the upcoming interest rate policy, marking a significant shift for the Fed. We will open up a new path, "said Walsh. I hope that when we have the (policy) meeting in four weeks, we can have a thorough 'internal debate'. "At last month's first press conference, Walsh said that Fed policymakers unanimously believe that forward guidance is' not suitable for the current policy environment '. As for whether the Federal Reserve will permanently abandon its forward guidance, Walsh announced in June the establishment of five special working groups, one of which will specifically study communication mechanisms. The topics of other working groups include balance sheets, the Federal Reserve's use of data, productivity and employment, and the central bank's inflation framework.