Warsh's Jackson Hole Speech to Shape Market Expectations

Fed's Kevin Warsh faces a high-stakes moment at his Jackson Hole address later on Friday, where his messaging could either stabilize markets or trigger a costly market reaction.

The speech has the potential to flatten the U.S. yield curve and boost Treasury yields.

State Street SPDR S&P 500 ETF Trust (SPY) and other assets could be affected by Warsh's message, which may impact market expectations about monetary policy and interest rates.