Odd Lots · Tuesday, September 1, 2026
Adam Posen, President of the Peterson Institute, gives Fed Chair Warsh's Jackson Hole speech a 'B-minus,' stating it was more positive than usual given the circumstances. He believes the speech was an attempt to clarify the Fed's stance after a period of confusion regarding interest rate policy and the reasons behind task forces and rhetoric.
“I mean, even though I knew that was the question that was coming. You know, if you were grading it, it's a B-minus speech. Okay. It's a B- speech by normal standards. It's much more positive because of the situation we were in.”
“He, the chair, well, you know, let's be blunt, as you said. The chair had created a huge amount of not just confusion, but in central banking circles, in the sophisticated observers like you, about what he really thinks.”
“And this was both short-term confusion Does he want to raise rates? Does he not want to raise rates? But also, medium, long term, what is behind all this task forces and the rhetoric?”