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Kevin Warsh, the new chairman of the Federal Reserve, held interest rates unchanged at his first opportunity but used the moment to signal something more consequential than a rate decision: a structural rewiring of the central bank itself.
The clearest guide to where he is taking the institution, according to analysts, is not the policy statement but the task forces he is assembling.
Those internal working groups are now the primary lens for reading the new Fed.
What a Task Force Is and Why It Changes the Calculus A Fed task force is an internal working group charged with examining a specific area of the institution's operations or policy framework.
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