Federal Reserve Chairman Kevin Warsh to speak at gathering of experts

Federal Reserve Chairman Kevin Warsh is speaking today at a gathering of economists and central bankers in Jackson Hole, Wyo., where investors are hoping to learn more about the new Fed chief’s approach to battling inflation.

Inflation has cooled slightly in the last two months, but prices are still climbing much faster than shoppers or the Federal Reserve would like. Warsh has promised repeatedly to get inflation under control, but so far has offered few specifics. Financial markets were disappointed with the lack of a roadmap at Warsh’s last news conference following the Fed meeting in July.

The Fed held its benchmark interest rate steady at that meeting, but three members of the rate-setting committee dissented, saying they would have raised rates by a quarter percentage point. Investors put the odds of a rate hike in September at about one in three.

An NPR editor adapted this audio report by Scott Horsley.