Warsh Keeps Fed Strategy Under Wraps Ahead of Jackson Hole Address

New Federal Reserve Chair Kevin Warsh is set to address the annual economic symposium in Jackson Hole, Wyoming, for the first time. The markets are eagerly awaiting some clarity from Warsh on Friday, but it may not come.

According to Stephen Kates, a certified financial planner and principal at Clocktower Financial Consulting, 'He's definitely holding things close to his chest.'

The Fed Chair has been reluctant to comment on how the central bank might handle interest rate decisions and other monetary policy. At his last news conference, Warsh said he was approaching the Jackson Hole speech as a 'blank piece of paper.'

Kates predicts that consumers should not expect any 'groundbreaking' announcements in Warsh's speech. The Chair wants to avoid giving forward guidance, making it difficult for market watchers and Fed observers to make informed decisions.