New Federal Reserve Chairman Kevin Warsh will be in the spotlight this week as he debuts at the Jackson Hole Symposium in Wyoming.
Warsh to Debut at Jackson Hole Symposium
His appearance comes at an important time for the US economy. Public debt crossed the $40 trillion milestone last week and has already grown by over $47 billion since then.
US bond yields have also continued to rise. The 30-year Treasury yield has rebounded to 5.27%, having briefly dipped to 5.17% after Treasury Secretary Scott Bessent‘s intervention last week. It is now hovering near its highest level in two decades, and the uptrend may continue as the US economy slows.
Warsh’s statement also comes at a time when the US dollar is under pressure. The DXY dropped to 98.56, its lowest level since May 14. It has now dropped by over 3% from its highest point this year.
