Will Warsh Talk Down The Hawks At Jackson Hole?
Kevin Warsh delivers his first Jackson Hole speech as Fed Chair on Friday, August 28, at the Kansas City Fed's annual symposium in Wyoming. The meeting occurs less than three weeks before the September 16 FOMC decision. While the official topic is financial innovation in payments, Wall Street will primarily want to see whether Warsh tries to talk the hawks out of their tightening bias. The backdrop Warsh faces is difficult. The 30-year UST yield is at its highest level since 2007. June and July CPI cooled significantly, with core inflation down to 2.5%, the lowest since 2021. Growth is…
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