Fed Chief Kevin Warsh set to give view on rates, central bank overhaul at ECB forum: Live updates

Warsh could provide signs of Fed communication strategy Federal Reserve Chairman Kevin Warsh will have the opportunity to show more of what will motivate his policy positions when he appears Wednesday at the central bank forum in Portugal. One of the big areas of early focus for the central bank leader, who took office in May, will be the Fed's "reaction function," or what criteria it will use when making interest rate decisions. Warsh has argued that policymakers have spent too much time trying to predict the future, with a spotty record of doing so. One of five task forces Warsh has set up is expected to focus on how the Fed communicates its thinking behind policy moves. "I think it's important that we, as central bankers, are transparent in communicating how we're making decisions," Cleveland Fed President Beth Hammack said Tuesday in a CNBC interview, also from the ECB forum. —Jeff Cox