Fed Chair Kevin Warsh’s keynote speech at Jackson Hole:
• Inflation remains too high, and the Fed’s predominant focus should be on prices
• The 2% PCE inflation target is “firm and fixed”
• Summer inflation data improved, but underlying trends have not meaningfully changed
• The Fed still has work to do unless inflation returns to target “clearly and at sufficient speed”
• Labor markets remain stable and consistent with full employment
• Broad financial conditions are not restrictive
• A “good majority” favored waiting before changing interest rates in July
News | Markets | YouTube
August 28, 2026 12 2
