Warsh's Hawkish Jackson Hole Address Sparks Rate Hike Fears

Federal Reserve Chair Kevin Warsh delivered a hawkish keynote at Jackson Hole, signaling potential rate hikes.

The market reacted sharply, with September hike probability jumping to 66%, up from 57.5% earlier.

Veteran investor Louis Navellier now advises investors to take a 'chill pill', arguing the central bank is still restructuring.

Warsh reaffirmed the 2% PCE target as 'a firm, fixed target', and noted that summer's better-than-expected inflation prints 'do not tell me that underlying trends have meaningfully improved.'