ECONOMY08/26/26

Warsh at Jackson Hole

Markets and analysts focus on Fed Chair Warsh's upcoming Jackson Hole speech on inflation.

Photo: Forbes

FRAMING Bloomberg Markets emphasized Market Uncertainty Ahead; Forbes emphasized Warsh Inflation Truth-Telling.

WHAT BOTH SIDES REPORT

▸Fed Chair Kevin Warsh is set to speak at the annual Jackson Hole gathering. — Bloomberg Markets, Forbes

LEFT / CENTER-LEFT

▸Gold retreated from a three-month high as investors shifted focus to the Fed's rate path ahead of Jackson Hole. — Bloomberg Markets
▸Capital Economics' Simon MacAdam outlined what he hopes to hear from Warsh at Jackson Hole on inflation and rates. — Bloomberg Markets

RIGHT / CENTER-RIGHT

▸Steve Forbes argued Warsh should use Jackson Hole to tell global central bankers the truth about inflation's true nature. — Forbes

September CPI Hits 3.7%

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest