The Globe and Mail reports in its Monday edition that the paring back of Federal Reserve communications is part of a larger package of potential reforms to the central bank's operations that new Fed chair Kevin Warsh signalled Wednesday. An Associated Press dispatch to The Globe reports that Mr. Warsh announced that the Fed will set up five task forces to examine the Fed's communications, its balance sheet, how it analyzes and gathers economic data, the impact of artificial intelligence on productivity and jobs, and the frameworks it uses to analyze inflation. Mr. Warsh said the communications task force would consider changes to the quarterly economic projections the Fed issues as well as look at other recent innovations, including press conferences. Former chair Ben Bernanke was the first to hold them, though he did so only after every other Fed meeting. Mr. Warsh's predecessor, Jerome Powell, shifted to holding them after every meeting. Such steps are a sharp contrast with the 1990s, when former Fed chair Allan Greenspan never explained a decision. Mr. Warsh could ultimately dial back some of the Fed's increased transparency. He believes financial markets have become too dependent on Fed guidance.