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Story summary
- Federal Reserve (Fed) Chair Kevin Warsh announced the institution will cut statements and end forward guidance.
- Warsh said a force will review projections, press practices and innovations, and announced forces on communications, balance sheet, data analysis, AI impact on jobs and inflation.
- Analysts said the Dow fell 2.4% after the announcement, warning of volatility.
- George Pearks said mortgage rates could rise a quarter-point without guidance, but effect would be modest.
