‼️ 🇺🇸 Kevin Warsh’s first major speech as Fed chair at Jackson Hole on Friday will test his pared-back communications approach after a shaky press conference last month sparked a bond-market backlash. Critics say he has been too opaque about the economic outlook and the rationale for holding policy steady, while Warsh remains determined not to give investors explicit guidance on future rate moves. The challenge has intensified after Treasury Secretary Scott Bessent unexpectedly announced US debt buybacks aimed at lowering long-term yields. Markets will be watching for clearer explanations of the Fed’s assessment of inflation and policy risks—particularly after Warsh declined to frame further rate hikes as a plausible tool and made remarks about the 2% inflation target that fueled speculation it could be reconsidered in January
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