Warsh Says the Fed Will Work on Implementing Changes

Warsh has begun his first press conference.

He said: "This week's FOMC meeting exemplified the very best of the Fed's traditions: rigorous debate, open mindedness, commitment to mission, responsibility, and accountability for performance."

He also said the Fed will work on implementing changes that "might improve the conduct of monetary policy."

"A change in leadership is a natural and timely opportunity to reaffirm its mission to review current practices and to consider whether those practices best meet our objectives."