Five things to know about Kevin Warsh’s first Fed meeting as chair

1. 1. Kevin Warsh struck a hawkish tone at his first press conference, vowing to tackle inflation and hinting at possible rate hikes.
2. 2. Warsh plans to overhaul Fed communications, moving away from forward guidance to a less-is-more approach reminiscent of Alan Greenspan.
3. 3. Warsh aims to shrink the Fed's balance sheet but will proceed cautiously, with a task force reviewing the current ample reserves regime.
4. 4. Warsh wants the Fed to use real-time private sector data instead of traditional government surveys, which he says are outdated.
5. 5. Despite announcing task forces, Warsh provided little concrete detail on specific changes, leading to uncertainty about his approach.