Policy2026-08-28 14:49:08Kevin Warsh's First Jackson Hole Speech: Inflation Target 'Clear and Fixed,' Prices Top PriorityFederal Reserve Chair Kevin Warsh used his first Jackson Hole speech on Aug. 28 to reaffirm the central bank's commitment to pulling inflation back to its 2% target, calling the goal "clear and fixed" and insisting that price stability will not happen on its own. Warsh said the Fed must be convinced that underlying inflation is moving toward target at a pace that is "clear and fast enough"; otherwise, "we have more work to do." He pointed to the summer's better-than-expected PCE and CPI readings but said they have not convinced him that the underlying trend has meaningfully improved. With inflation still above 2%, he said the Fed's "primary focus right now should be on prices." The chair also pushed back on the idea that financial conditions are restrictive, describing them as not restrictive and calling interest rates the Fed's "primary tool." He argued that forward guidance should play a limited role, and that policymakers should not base forward-looking policy on stale or inaccurate data. At the same time, he said the odds of materially stronger economic growth are rising. On market expectations, Warsh said market pricing reflects confidence that the Fed will deliver price stability, adding, "I can assure you, the market assessment is right." He closed by stressing that price stability is the Fed's responsibility and will not be achieved automatically.920
Federal Reser2026-08-28 13:39:07Warsh's Next Fed Remarks Seen as Early Test as Inflation Miss Extends to 65 MonthsAnalysts and investors are treating Federal Reserve Chair Warsh's upcoming remarks as an early test of whether he can adapt to a climate of growing unease over his policy agenda. The central bank has missed its inflation target for 65 straight months, and progress during the past year and a half has been limited. Warsh, early in his term, has repeatedly pledged to achieve the Fed's inflation goal but has not explained how, fueling calls for the central bank to adjust its priorities. Gregory Daco, chief economist at EY-Parthenon, said Warsh's public comments so far have been overly general, and that people are concerned about the Fed's independence. There is also worry that Warsh may be reluctant to discuss possible rate hikes for fear of antagonizing President Trump and his administration. Daco said Warsh must communicate more cautiously, avoiding the impression of closer coordination between the Fed and the Treasury, and avoiding any appearance of being influenced by the president's demand for rate cuts. For a new Fed chair, he added, those are not good signs. Warsh now faces a delicate trade-off: speaking too much could create expectations that become difficult to walk back, while speaking too little could cost him credibility and hand influence to other Fed officials capable of offering more detailed arguments. In either case, market volatility could follow.770
Federal Reser2026-07-29 18:33:46Fed Chair Warsh says the Federal Reserve has not set a soft inflation targetChainCatcher, citing Jin10, reported that Federal Reserve Chair Warsh said the U.S. central bank has not set a soft inflation target. The item was published as a brief policy and regulation newsflash and did not include additional context, figures, or follow-up details. No further explanation was provided in the source on the policy framework or any related timeline. The report only attributes the statement to Warsh through Jin10 and does not add background beyond that single remark.1890
Federal Reser2026-07-13 17:59:40Fed Governor Waller says he favors a 1.5%-2.5% inflation target rangeFederal Reserve Governor Christopher Waller said he would prefer an inflation target range rather than the current single-point 2% goal, with his preferred band set at 1.5% to 2.5%. Waller said it is not realistic to expect a central bank to steer inflation to one exact number with precision. He also argued that judging monetary policy as a success or failure based on a single target point can be overly strict. In his view, a target range may better reflect how the economy actually operates. The remarks were reported by Odaily in a brief news update.1690
Federal Reser2026-06-26 00:01:23Fed's Williams: Labor Market Shows Resilience, Inflation Must Return to 2% TargetFederal Reserve official Williams stated that the current labor market shows resilience, while emphasizing the need to bring inflation back to the 2% target. This stance reinforces the Fed's commitment to price stability, suggesting that despite strong employment data, policymakers remain focused on curbing inflation. Market participants should watch for further guidance on the interest rate path from upcoming Fed meetings.420
Federal Reser2026-06-22 20:01:55Fed Chair Warsh's Debut: New Leadership, Same Script — Rate Hike Expectations RiseNew Fed Chair Kevin Warsh's first public appearance offered no clear rate path guidance, reinforcing market expectations of a rate hike this year. The report also notes inflation may weaken faster than expected, and balance sheet reduction could exceed market expectations, partly through Treasury account cuts.480
