Warsh’s Jackson Hole speech leaves markets guessing on rates

Federal Reserve Chair Kevin Warsh is slated to give his high-profile Jackson Hole speech, but analysts expect him to refrain from outlining a clear reaction function or rate path, underscoring investor uncertainty as inflation remains elevated and deficits rise. Market watchers say the speech could either calm nerves if he shares views, or heighten volatility if he stays vague, with traders pricing in a range of possible rate moves later this year.