Fed Chair Kevin Warsh said on Wednesday that he wants financial markets to price securities based on their own assessment of the economy, rather than trying to anticipate how central bank officials will interpret incoming data.

According to Jin10, Warsh said that the more markets focus on changes in the real economy, the better they can judge which data matter most and which are relatively less important, allowing them to form prices around what they see as the most likely outcome.

He added that this approach could help avoid a situation in which financial markets are merely reflecting what policymakers have said.