Federal Reserve chair Kevin Warsh took to the stage at Jackson Hole under pressure. Inflation is sticky, bond markets have been wobbling and his insistence on minimal Fed communication has been seen by some to make matters worse. Soumaya speaks to Torsten Slok, chief economist at Apollo Global Management, to discuss what Warsh did (and didn’t say), the changing relationship between the Fed and the Treasury and how the central bank should fight America’s growing fiscal issues.
Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.
Join Soumaya Keynes on Saturday September 5 at Kenwood House Gardens in London, or online as the FT Weekend paper comes to life. Register now at ft.com/festival and enjoy 10% off with code FTPODCAST.
Further reading:
Hawkish Kevin Warsh hints Fed will raise rates if inflation does not fall soon
Warsh settles some nerves at Jackson Hole
Scott Bessent’s bond intervention puts US Treasury on collision course with Fed
Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Original music and sound design by Breen Turner. Manuela Saragosa is the executive producer. Flo Phillips is the FT’s head of audio.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.