Kevin Warsh se estrena en Jackson Hole entre la espada y la pared por la tormenta en el mercado de deuda
Debe elegir entre mantener el perfil bajo y decepcionar al mercado o desdecirse de sus planteamientos previos y quizá enfadar a Trump
This week, bank central authorities will convene in Jackson Hole, Wyoming, bringing together the leading figures in global monetary policy. Among them is Kevin Warsh, who will be making his debut as the President of the Federal Reserve. Despite his reputation for being reticent about outlining specific approaches and strategies, expectations are high for the content of his speech.
Market pressure is also a strong factor. In recent days, yields on US bonds have surged to levels not seen in 20 years. The market reacted with surprise and disappointment after Warsh’s press conference at the end of July, when the Fed kept rates unchanged, offering no clues about how to curb inflation. Investors are now expecting a more decisive message and clearer signals beyond the theoretical commitment to contain inflation.
If Warsh sticks to the opacity he has advocated, he risks exposing himself to the risk of a sharp rise in bond yields and the growing sense of credibility loss that followed the July appearance.
Written by urgent.news from El Pais Economia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
