ISSUE 151 | August 19, 2026 | 1:30 PM EDT TOPof MIND ASSESSING A LESS TRANSPARENT FED Fed Chairman Kevin Warsh is steering the Fed into a less transparent era. So, is that a positive or negative development, and what could it mean for markets and the economy? We speak with Former Fed governors Donald Kohn and Stephen Miran as well as GS' Jan Hatzius who agree that rigid "Odyssean" forward guidance that commits policymakers to a pre-set path risks policy mistakes and is therefore rarely appropriate. But they ...