New Delhi, June 19 -- New Fed Chairman Kevin Warsh opened his first news conference with a swipe at his predecessor, a commitment to deliver significant changes to Wall Street, and a vow to communicate less with the people who pay the most attention to him.

Most of us probably won't have done it that way. But Warsh obviously sees things differently. So get used to it.

"The Fed will deliver price stability (and) the commitment to deliver it is strong, unanimous, and unambiguous," Warsh told reporters on Wednesday, shortly after the central bank announced it was holding its benchmark lending rate steady at 3.5% to 3.75%.

"That's an important message we've missed for five years, and we're going to fix that," he added.

And sure enough, du...