Fed Chair Kevin Warsh’s keynote address at Jackson Hole:
• Inflation is still too elevated—the Fed’s top priority must remain price stability
• The 2% PCE inflation target is “firm and fixed”
• Recent summer data shows some improvement, but underlying trends haven’t shifted significantly
• The Fed still has more to do unless inflation returns to target clearly and at a sufficient pace
• Labor markets remain solid and aligned with full employment
• Overall financial conditions remain accommodative, not restrictive
• A “solid majority” supported holding rates steady in July to assess incoming data
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1August 28, 2026 1.2K 1
