Warsh Faces Pressure to Deliver Clarity on Inflation Strategy

Fed Chairman Kevin Warsh is set to deliver his first major speech at the annual gathering of economists and policymakers in Jackson Hole, Wyoming. Investors are eagerly awaiting clarity on the central bank's strategy to curb stubborn inflation.

Last month, Warsh promised to bring prices under control but offered no specifics about his plan. Many are hoping for more transparency from the Fed chair.

The current inflation rate stands at 3.7% in the 12 months ending in July, well above the Fed's 2% target. Investors see a one-in-three chance that the Fed raises its benchmark interest rate at its next meeting in mid-September.