Federal Reserve Chairman Kevin Warsh used his Jackson Hole speech Friday to expand on a longstanding critique of forward guidance, arguing that the central bank should rely less on efforts to tell markets where policy is headed and more on
Warsh’s comments sent odds of a September rate hike soaring.
There’s a clash coming between the Federal Reserve and the Biden administration.
The annual monetary policy conference in Jackson Hole, Wyoming, has the potential to produce some explosive results.
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation,” Powell said.
Next week Jerome Powell will find himself facing down financial markets at the feet of the Teton Mountains in Jackson Hole, Wyoming, each standing in the summer heat daring the other to blink first.
First Lady Melania Trump got cool in the mountains of Wyoming on Thursday as she visited a local troop of the Boy Scouts of America as part of her “Be Best” campaign.
Have you ever been to an air-consumption class and had a hockey game break out? No? Well it happened.
