Warsh has communicated less about economy than prior Fed chairs
New Federal Reserve Chair Kevin Warsh faces pressure from economists and Wall Street investors to clarify how the central bank plans to address stubbornly elevated inflation in a speech Friday at the Fed’s annual economic symposium in Jackson Hole, Wyoming. The Associated Press reports that since taking office, Warsh has communicated noticeably less than his predecessors about the economy and inflation, a pattern that has drawn criticism from those seeking a clearer signal on the central bank’s next interest-rate move.
At his most recent press conference, Warsh declined to answer repeated questions about whether the Fed would raise its benchmark interest rate if inflation remains high, according to the AP.
The Friday speech comes as stubbornly elevated inflation has caused what the Associated Press described as “pervasive gloom” among many consumers. The AP characterized the address as a “high-stakes opportunity” for the new chair to address inflation concerns, and described the occasion as a chance for Warsh to underscore his inflation-fighting bona fides.