Kevin Warsh, the new Federal Reserve chairman, delivered his first speech at the annual Jackson Hole conference, placing inflation control at the heart of the central bank’s priorities. His remarks immediately triggered a jump in near-term rate hike expectations, with investors now focusing on the next U.S. inflation data due September 11. European Central Bank officials also warned about persistent inflation and supported the need for a rate hike in September. In contrast, Bank of England Governor Andrew Bailey adopted a more cautious tone, suggesting he can watch the situation for the moment. The discussions also highlighted the technological challenges facing central banks in dealing with asset tokenization.
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