Warsh Keeps Markets Guessing Ahead of Fed Meeting

Kevin Warsh, Chairman of the US Federal Reserve, has been signaling that inflation remains too high, but his next move is unclear. Since taking over in May, Warsh has promised a return to an older style of central banking, characterized by fewer speeches and more 'constructive ambiguity'.

Last month at Jackson Hole, Warsh delivered what many consider the most consequential seven minutes of his young chairmanship. He did not announce a rate hike or even hint at one.

The smart money is finally starting to bet on which way he'll break. The Federal Reserve's meeting on September 15-16 will be closely watched for any indication of Warsh's next move.