New Federal Reserve Chair Kevin Warsh delivered his inaugural address at the Jackson Hole symposium on August 28, 2026, with 30-year Treasury yields above 5.2% and inflation remaining above the central bank’s 2% target for the fifth consecutive year. Three FOMC members dissented at the July 2026 meeting, calling for a rate hike rather than a hold. Treasury Secretary Scott Bessent announced bond buybacks in August 2026 to reduce long-term yields. Warsh has adopted a data-driven approach rather than forward guidance, marking a break from the post-2008 Fed policy.
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