Fed Minutes Take Center Stage as Warsh Withholds Rate-Path Signals

The Fed releases minutes from its July 28–29 FOMC meeting on August 19. Chair Kevin Warsh's aversion to forward guidance — signaling the likely future path of rates — has made these minutes investors' primary window into Committee thinking, since Warsh's own communications have been deliberately sparse on future policy direction. The Committee voted to hold rates at that meeting.