Warsh-era Fed communications overhaul: a Mervyn King-led task force skeptical of detailed forward guidance is expected to move the Fed from binding ('Odyssean') toward non-committal ('Delphic') data-dependent guidance, echoing the pre-guidance Greenspan era and mirroring the ECB's explicit non-precommitment under Lagarde. Mechanism: less path-dependence lifts rate volatility at the short end and, over time, intermediate tenors, and raises market sensitivity to each data surprise. Bears on ZN (vol regime) and SR3 (front-end vol); a comms-structure sibling to the fed-warsh-overhaul rate-path theme.