Wall Street’s Jackson Hole Preview: What Will Fed’s Warsh Say?

TREE NEWS update: As NVIDIA’s earnings settle, markets turn to Fed Chair Kevin Warsh’s Jackson Hole speech. The key concern isn’t hawkish vs. dovish but the Fed’s unpredictable reaction function, with Warsh likely to focus on AI, productivity, and long-term frameworks rather than signaling September action. Goldman expects him to reaffirm the 2% PCE target without pre-committing, while the Treasury’s long-end buybacks may offer temporary relief but won’t solve structural supply issues.