Central bankers and economists have gathered in Wyoming for the annual Federal Reserve symposium at Jackson Hole. The event, sometimes referred to as the 'Davos for central bankers', will feature a speech from Federal Reserve Chair Kevin Warsh at 3pm UK time.
Inflation and the bond market are central to discussions, particularly as the Iran war continues to impact the global economy. This marks Warsh's first symposium as Fed Chair, occurring at a time when inflation remains above target and long-term yields are under pressure.
Investors are keen to hear Warsh's perspective on how the Federal Reserve will address inflation if price pressures persist. There is also interest in his views on Treasury Secretary Scott Bessent's recent actions to lower US long-term borrowing costs through bond buybacks, a move that could potentially conflict with the Fed's policy objectives.