What Warsh's Jackson Hole speech signals about where interest rates are headed

Federal Reserve Chair Kevin Warsh on Friday delivered his first keynote address at the annual Jackson Hole Symposium on monetary policy, outlining his views of the economy and his perspective on why he thinks the central bank's forward guidance should be reined in.Warsh emphasized that the Fed is focused on returning inflation to the central bank's 2% target, acknowledging that bringing the personal consumption expenditures (PCE) index to that level is the "firm, fixed target" for policymakers. In July, PCE inflation remained at 3.7% compared with last year, which Warsh called "concerning" and...

22 hours ago  •  On HALO