Warsh to Make First Jackson Hole Speech as Fed Chair
Kevin Warsh, the newly-appointed Federal Reserve chair, is set to deliver his inaugural keynote address at the annual gathering in Jackson Hole, Wyoming. Investors are eager to hear his perspectives on how the US central bank should respond to persistent inflation. Following the July policy meeting, Warsh provided few details about his views and refrained from providing any forward guidance on interest rates, which led investors to interpret his comments as a lack of resolve in bringing inflation back to target.
Consequently, long-term bond yields surged to a two-decade high. As the chair, Warsh faces pressure to adopt a more conventional approach and offer clearer guidance on the Fed's potential future actions. However, he may instead reiterate his dedication to price stability and avoid disclosing specifics on the Fed's path to achieving it.
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