Skip to main content
ECON DATATOOLS
← All Data Briefs

Rates & Fed · August 23, 2026 · 1 min read

Warsh Cuts Fed Communication Ahead of First Jackson Hole as Chair

By Econ Data Tools Editorial Team

Published August 23, 2026

Reviewed by Econ Data Tools Editorial Team

The new Fed chair heads into a hawkish, quieter FOMC as markets weigh September hike odds.

**Warsh heads into his first Jackson Hole as a quieter, hawkish Fed chair.** Kevin Warsh, confirmed by the narrowest Senate vote in the position's history (54-45) and sworn in this past May, delivers his keynote around 10:00 a.m. ET Friday, Aug. 28, at a symposium themed on payments and fintech. He's cut post-meeting statements to roughly 130 words — about half their prior length — and skipped submitting a projection to the "dot plot" for the first time since it began in 2012. **July's FOMC hold drew the most hawkish dissent since 2016.** The Fed held its target range at 3.50%-3.75% on a 9-3 vote, with three governors dissenting in favor of an immediate hike. Markets price roughly 1-in-3 odds of a September move, even after July payrolls fell 23,000 (vs. +85,000 expected) and July CPI ran 3.4%, still well above the Fed's 2% target.

Follow the data

Relevant directory links appear to be unassigned.

Sources

Related Briefs

Treasury’s August 20 Bill Auctions Set 3.701% and 3.727% Investment Rates

Treasury’s August 20 auction records show high investment rates of 3.701% for a $110 billion four-week bill offering and 3.727% for a $100 billion eight-week offering.

Treasury’s August 24 Bill Auctions Set 3.803% and 3.918% Investment Rates

Treasury awarded $92 billion of 13-week bills at a 3.803% high investment rate and $79 billion of 26-week bills at 3.918%, according to the Treasury Fiscal Data auction record.

Chicago Fed’s July Activity Index Fell to −0.08 as Its Three-Month Average Turned Negative

The Chicago Fed’s August 24 release put the CFNAI at −0.08 in July, down from +0.06 in June; the three-month average declined to −0.04 from +0.01.