Pimco Sees Warsh Changing Fed Signals Without Silencing Them

Bond investors will be watching next week’s Federal Reserve meeting for signs of how quickly new Chair Kevin Warsh moves to put his own stamp on the central bank, officials at Pacific Investment Management Co. said.

Richard Clarida, a former Fed vice chair and Pimco’s global economics adviser, said investors are still trying to gauge how Warsh will approach the Fed’s communication with markets.

“Going back to the 80s, it’s understandable that when a new Fed chair comes in, there is a period maybe measured in weeks or months where you’re trying to get a sense of the regime ...