Warsh Faces Pressure at Jackson Hole to Clarify Cryptic Communication

US Federal Reserve Chair Kevin Warsh is set to address investors and policymakers at the annual Jackson Hole conference in Wyoming, where he will have to provide clarity on his cryptic communication style.

Since taking office, Warsh has drastically reduced Fed communications, axing forward guidance on interest rates and refusing to share his views on the economic outlook. This lack of transparency has been a source of frustration for investors, who are looking for greater sense of credibility in policymaking.

Economist Gregory Daco said that markets are searching for 'a greater sense of transparency and credibility when it comes to policymaking.' He added that Warsh's communication style has been 'cryptic' and sometimes inconsistent.