New Delhi, July 1 -- The US Federal Reserve under its new Chair Kevin Warsh could fundamentally alter the way central banks communicate and conduct monetary policy, with far-reaching implications for the US economy, financial markets and the global monetary system, according to an SBI Research report released on Tuesday.

The report says Warsh's approach marks a departure from the communication-heavy framework adopted by recent Federal Reserve leadership, favouring institutional discipline, narrower mandates and greater reliance on markets rather than extensive forward guidance.

"Fed's playbook under Kevin Warsh seems poised for a pot boiler that can break or make the way Central Banks and broader markets function and fight for superior ...