Fed's Warsh Corrected July's Communication Mistakes
Dow Jones
3 hours ago
0514 GMT - Federal Chair Kevin Warsh delivered a clear and hawkish speech at Jackson Hole on Friday, "walking back his communication mistakes in July," SEB's Fed watcher and U.S. economist Elisabet Kopelman says in a note. "While Warsh did not send clear signals on the timing of rate changes, the speech was supportive of market expectations of a rate hike during the fall--whether in September or by year-end," she says. Inflation and the balance within a currently split FOMC will be decisive but the speech indicates an upside risk to SEB's forecast that rates have peaked, Kopelman says.
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