The David Lin Report · Saturday, August 29, 2026
Federal Reserve Governor Kevin Warsh's speech at the Jackson Hole Symposium on Friday, August 28th, caused a significant market sell-off. Warsh indicated that while summer inflation readings were better than expected, underlying trends have not shifted, suggesting a continued hawkish stance from the Fed. This spooked markets, leading to predictions of a potential Fed rate hike in September.
“Fed chair Kevin Warsh said that this summer's PCE and CPI are readings were better than expected.”
“But specifically, uh, regarding to his comments about inflation. He said something that spooked the markets and prompted the markets overall to believe that a Fed rate hike in September is coming.”
“Yeah, well, just in general, his speech was a little bit more hawkish than I think a lot were expecting, including myself.”