BusinessQuiet 77d · day 77
Kevin Warsh Vows to Fight Inflation in First Jackson Hole Speech as Fed Chair
In his inaugural address as Federal Reserve Chair, Warsh warned inflation isn't meaningfully slowing, sending short-term yields higher on renewed rate-hike bets.
What to know
- Kevin Warsh gave his first speech as Federal Reserve Chair at the Fed's annual Jackson Hole symposium.
- He warned that inflation is not meaningfully slowing and pledged to bring it back to the 2% target.
- Short-term Treasury yields jumped (two-year to 4.34%) on increased rate-hike bets, while longer-dated yields stabilized.
- U.S. stocks traded modestly lower (S&P 500 down about 0.2%) in the hours after the speech.
“HE WARNED INFLATION ISN'T MEANINGFULLY SLOWING. HE STRESSED POLICYMAKERS ARE GOING TO RETURN INFLATION TO THE 2% GOAL.”
Lisa Mateo, Bloomberg Businessweek Daily anchor · Bloomberg Television broadcast · Aug 27
Kevin Warsh Federal Reserve Chair
Charlie Pellett Bloomberg News anchorTim Stenovec Bloomberg Businessweek Daily co-anchorLisa Mateo Bloomberg Businessweek Daily fill-in anchor
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