American economist and central banker, 14th Fed chair (2006–2014)
The Federal Reserve has held rates steady under chair Kevin Warsh while signaling inflation remains above target. Markets are pricing in a potential rate hike later this year as dissents and communications style shape expectations.
Warsh has moved to reduce forward guidance and may cut meetings, aiming to give the Fed more flexibility as markets react to his new approach while inflation remains above target.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
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.