Chairman of the Federal Reserve Kevin Warsh speaks at a press conference at the Federal Reserve in Washington, D.C., on July 29. File Photo by Annabelle Gordon/UPI | License Photo
Aug. 28 (UPI) -- Economists and financial markets will be watching closely on Friday when the Federal Reserve Chairman Kevin Warsh delivers a keynote address at the central bank's annual symposium in Jackson Hole, Wyo.
Federal Reserve chairmen often use the speech to discuss monetary policy initiatives on a broad level, including offering insight into future interest rate plans. Since being appointed chairman in May, Warsh has been scant with details on future policy decisions and Friday's address is expected to be more of the same.
The U.S. economy continues to face inflation pressures with inflation rates well above the Federal Reserve's 2% annual target. Under Warsh, inflation markers have moved higher yet while the Federal Open Market Committee has maintained its benchmark interest rates at 3.5% to 3.75%.
Some members in the central bank are calling for another hike in interest rates, which would be a first since July 2023.
