Time will tell on Warsh’s messaging, Rubenstein says

David Rubenstein says it’s too early to judge Fed Chair Kevin Warsh’s communication style; Warsh’s hawkish Jackson Hole remarks kept inflation in focus and lifted yields, as markets price in a likely rate hike this week. Goldman Sachs also signals a 25 basis point move. Rubenstein notes markets generally want more information from the Fed, implying Warsh may need time to refine his messaging even as he remains a strong pick.