New Delhi, Sept. 1 -- Globally, few speeches are watched as closely or analysed in as much detail as the US Federal Reserve chair's speech at the symposium hosted by the Kansas City Fed every year for central bankers, finance ministers, academics and other financial leaders at Jackson Hole, Wyoming.

And if the US Fed's chair happens to be new, interest is almost fever-pitch. So it was that Friday's speech by Kevin Warsh, who had taken Fed leadership just 100 days earlier, held the world of finance riveted.

In the most detailed comments so far from someone who has made no secret of his disdain for 'forward guidance' and believes in keeping his cards close to his chest, Warsh made two things clear.

One, it is the "Fed's job to deliver st...