Kevin Warsh to speak at Jackson Hole amid 3.7% inflation
Kevin Warsh, Federal Reserve Chairman, is set to give his first big speech at the Jackson Hole symposium this Friday.
Inflation is running hot: prices jumped 3.7% in July compared to last year, well above the Fed's usual 2% target.
Warsh has promised action on inflation but hasn't shared specifics yet, and investors are watching closely for any hints about possible interest rate hikes.
Kevin Warsh sees AI pushing prices
Markets think there's a one-in-three shot of a rate hike at the Fed's September meeting.
Warsh tends to focus on big-picture topics like productivity and global trends instead of giving direct forecasts.
He also sees artificial intelligence as pushing prices up for now but believes it could eventually make things cheaper.
The Jackson Hole event itself brings together top economic minds, and everyone's waiting to see what direction Warsh will set for the months ahead.