American economist, current president of the Federal Reserve Bank of Chicago
Federal Reserve Chair Kevin Warsh has told the Jackson Hole symposium that recent inflation readings have not shown that underlying trends have meaningfully improved and that short-term rates remain the Fed's primary tool. Markets have pushed up Treasury yields and raised odds of a September rate increase as officials debate whether to tighten policy.
The latest inflation data has reinforced concerns about how aggressively the Federal Reserve will tighten policy. Officials are signaling a hawkish stance, with traders pricing in another rate increase and debates over the pace of future tightening intensifying.