world-economy

Fed Chair Warsh to Deliver First Major Address at Jackson Hole Gathering

Federal Reserve Chairman Kevin Warsh will deliver his first major speech Friday at the annual Jackson Hole economic summit in Wyoming. Markets are watching closely for clues on inflation strategy. Warsh took the helm in May and has pledged to combat persistent price increases but has declined to detail his approach. Inflation reached 3.7% in the 12 months ending July, according to the Fed's preferred measure, exceeding the central bank's 2% target. Market participants expressed disappointment last month over Warsh's lack of specifics. Economists including Kathy Bostjancic, chief economist at Nationwide, are seeking greater communication on inflation dynamics. Warsh has signaled he prefers discussing actual economic conditions rather than Fed policy deliberations. Some analysts expect the chairman will maintain a cautious tone at Jackson Hole rather than project near-term central bank moves.