The Warsh press conferences aren't going to work in their current form, and it isn't because he's dodging.

The post-meeting press conference is a vehicle for forward guidance. Warsh has stopped it and restated that today at the top he is "steering clear of forecasting," and "market participants are learning to play the ball, not the referee." Today he took 20 questions from 11 reporters, and by my count 14 asked for a future path or reaction function, 8 of them outright. That's not a lazy pres — via @biancoresearch

Warsh abandoning forward guidance removes key policy clarity, triggering high market uncertainty.