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Markets want clearer signals on inflation and rate hikes, but Warsh may decline to provide them
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Federal Reserve Chairman Kevin Warsh is scheduled to deliver remarks Friday at 10 a.m. EDT at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, facing significant pressure to provide clarity on inflation and the path for interest rates.
Warsh has drawn repeated criticism for refusing to spell out his "reaction function" — meaning the economic circumstances under which the Fed would move rates in either direction — and investors see Friday's address as his clearest opening yet to fill that void, according to CNBC. Investors currently see roughly a 34% chance that Fed officials will raise rates at their September 15-16 meeting.
