Fed Chair Warsh Speaks at Jackson Hole Symposium Amid Rising Bond Yields and Moderating In
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WATCH LIVE: Fed chair Warsh speaks at Jackson Hole Economic Policy Symposium On Friday, Kevin Warsh has a high-stakes opportunity to address concerns and underscore his inflation-fighting bona fides when he gives his speech in Jackson Hole, Wyoming, during the Fed's annual economic symposium.
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The HillWatch live: Warsh gives key speech at Jackson Hole amid inflation, bond jitters Federal Reserve Chair Kevin Warsh will deliver a pivotal speech Friday at the central bank’s annual economic symposium in Jackson Hole, Wyo. The remarks come as the Fed grapples with persistent inflation and an increasingly jittery bond market. The 30-year Treasury yield hit a 19-year high last week before briefly falling after Treasury Secretary Scott…
Associated PressIn his first high-profile speech at the Fed’s annual conference at Jackson Hole, Wyoming, Warsh acknowledged that recent U.S. data show inflation has cooled a bit, but “they do not tell me that underlying trends have meaningfully improved.”
New York TimesWarsh’s Big Test at Jackson Hole Investors want Kevin Warsh, the Fed chairman, to address inflation, interest rates and the bond market in a major speech. Some worry he won’t say enough.
NPR NewsInvestors were disappointed last month when Warsh promised to curb stubborn inflation but offered no specifics about his strategy. Many are hoping for more clarity on Friday at a gathering that Fed chairs have traditionally used to reach a wider audience with their thoughts about the economy.
NBC NewsJACKSON HOLE, Wyo. — There is a lot riding on Federal Reserve Chair Kevin Warsh’s speech here Friday morning at the Fed’s storied annual retreat in the Tetons.
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In the weeks since Warsh’s last news conference, bond yields have surged to levels not seen in more than a decade. Experts say a big reason for the move higher was how little information Warsh conveyed about the Fed’s plans during that news conference last month.
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Associated PressThose concerns may have contributed to rising bond yields, which can increase the cost of borrowing for the government and everyone else. Yet Warsh has said he doesn’t want to provide what analysts call “forward guidance” about whether the Fed will hike or cut rates or stay on hold at upcoming meetings. He argues that it limits the Fed’s flexibility by committing it to a specific policy.
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Inflation cooled in June and July after spiking in May from soaring gas prices, yet it remains above the central bank’s target. According to the Fed’s preferred measure, it was 3.7% in July.
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NBC NewsInflation The inflation rate in July was 3.4%, still well above the Fed’s 2% target rate. And with oil prices showing no sign of returning to pre-Iran war levels this year, pressure is increasing on the Fed to combat that sticky inflation by raising interest rates at its next policy-setting meeting in September.
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01 NPR News Loading... "If I could, in the high mountain air in Jackson, Wyoming, I'd like to also frame the big questions," Warsh said last month, after he and his Fed colleagues voted to hold interest rates steady. "What's really happening with productivity? What's really happening with demographics? What's really happening to the global economy amid the shocks?"
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02 Associated Press “We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed,” Warsh said. “Otherwise, we have work to do.”
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03 Reuters Morning Bid: Warsh heads into Jackson Hole hot seat - Reuters Morning Bid: Warsh heads into Jackson Hole hot seat Reuters
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04 NBC News But just three months into the job, Warsh faces a growing list of more immediate questions for the central bank he leads.
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