gg2
Fed's Warsh heads to Jackson Hole
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Fed Chair Kevin Warsh speaks Friday at Jackson Hole, his first major address. Markets seek clarity on inflation and rate path amid bond yield pressure.
Background
Kevin Warsh became Fed Chair in May 2026 and has promised to curb stubborn inflation but offered few details. His first major speech at the annual Jackson Hole symposium is highly anticipated because Fed chairs traditionally use the venue to signal policy direction. Bond yields are near recent highs, partly due to perceived lack of transparency from the Fed, and inflation remains above the 2% target.
How it unfolded
- May 2026Kevin Warsh took charge of the Federal Reserve.
- Jul 29, 2026FOMC left rates unchanged; Warsh described the period as 'watchful thinking'.
- Aug 26, 2026Reports preview Warsh's upcoming Jackson Hole speech, noting high stakes and bond market pressure.
- Aug 28, 2026Warsh delivers his first keynote speech at Jackson Hole, Wyoming, at 10am Eastern.
Who’s saying what
- Analysts
- Some economists expect Warsh to keep a high-altitude approach rather than give specific rate forecasts.
- Fed Officials
- Cleveland Fed's Hammack says 'now is the time to act' on rates; Kansas City Fed's Schmid calls inflation 'stubborn' and 'sticky'.
- Bond Market
- Rising yields reflect a desire for more guidance due to lack of credibility and transparency from the Fed chair.