Warsh's Jackson Hole push tests Fed credibility as inflation lingers into the midterms

Warsh's Jackson Hole remarks signaling possible rate hikes put him under scrutiny over independence from Trump, with markets pricing in a September 25bp move as inflation remains above the 2% target and August data will influence credibility; delaying could undermine his hawkish stance, while acting now would raise borrowing costs ahead of the midterms.