Bank of England Governor Andrew Bailey has given a strong endorsement to Federal Reserve Chair Kevin Warsh's speech at the annual Jackson Hole symposium, describing it as carrying what he called 'real substance.' Warsh, who took over from Jerome Powell as Fed chair in 2026, used the address to spell out a new philosophy for policy communication. His approach calls for less specific forward guidance: the Fed would stop pre-announcing interest-rate moves several months in advance and instead anchor its framework around the broader concept of price stability. The aim, as Warsh outlined it, is to leave the central bank with more policy flexibility. Bailey, for his part, publicly welcomed Warsh's nomination as early as February and has stressed the importance of Fed independence. The convergence between the two central bank chiefs points to signs of policy coordination among major central banks as they deal with persistent inflation, according to CryptoBriefing.
Bank of England Governor Andrew Bailey has endorsed the Jackson Hole address from Federal Reserve Chair Kevin Warsh, calling it a speech with 'real substance.'
Warsh succeeded Jerome Powell as Fed chair in 2026. At the symposium, he laid out a new approach to policy communication. The core of that approach: dial back specific forward guidance. Instead of signaling rate moves months ahead, Warsh wants the central bank to anchor policy around price stability as a broader organizing principle. The shift is designed to preserve greater policy flexibility for the Fed.
Bailey's support for Warsh is not new. He publicly welcomed Warsh's nomination back in February and has stressed the value of Fed independence. That the two governors now sound similar notes on policy communication points to signs of coordination among major central banks still dealing with persistent inflation, per CryptoBriefing.
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