Bloomberg Surveillance · Saturday, August 29, 2026
Federal Reserve Chair Kevin Warsh delivered his first speech as a U.S. Central banker in Jackson Hole, signaling a more restrictive Fed. Markets reacted immediately, with short-term bond yields rising as traders priced in higher odds of a September rate hike.
“The clear tone here is a more restrictive Fed.”
“Warsh making clear that recent CPI and PPI data were not entirely encouraging.”
“It was a hawkish message. Of course, it sets it up for how he now delivers on that.”