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The new Fed chairman, Kevin Warsh, is under pressure to explain his ideas about inflation and interest rates.

The new Fed chairman, Kevin Warsh, is under pressure to explain his ideas about inflation and interest rates.

B1🇪🇸 Español🇺🇸 English

August 27th, 2026

The new Fed chairman, Kevin Warsh, is under pressure to explain his ideas about inflation and interest rates.

B1
Please note: This article has been simplified for language learning purposes. Some context and nuance from the original text may have been modified or removed.

🇺🇸 English

The new Federal Reserve chairman, Kevin Warsh, has changed how the central bank communicates.

El nuevo presidente de la Reserva Federal, Kevin Warsh, ha cambiado la forma de comunicar del banco central.

He speaks much less than his predecessors did.

Habla mucho menos que sus predecesores.

Many economists and Wall Street investors are not happy with that approach.

Muchos economistas e inversores de Wall Street no están contentos con ese enfoque.

On Friday, Warsh will give a speech in Jackson Hole, Wyoming.

El viernes, Warsh pronunciará un discurso en Jackson Hole, Wyoming.

It will be during the Fed's annual economic symposium.

Será durante el simposio económico anual de la Fed.

It is a high-risk chance to clarify his ideas about inflation and interest rates.

Es una oportunidad de alto riesgo para aclarar sus ideas sobre la inflación y las tasas de interés.

At his last press conference, Warsh created confusion.

En su última conferencia de prensa, Warsh sembró confusión.

He avoided answering whether he would raise the key rate if inflation stays high.

Evitó responder si subiría la tasa de referencia si la inflación se mantiene alta.

He says he does not want to give "forward guidance".

Él dice que no quiere dar "orientación prospectiva".

That limits the Fed's flexibility.

Eso limita la flexibilidad de la Fed.

However, some economists think he could explain his conceptual framework.

Sin embargo, algunos economistas creen que podría explicar su marco conceptual.

He would not have to reveal his future plans.

No tendría que revelar sus intenciones futuras.

David Wilcox, from the Peterson Institute, said Warsh has refused to give even that much clarity.

David Wilcox, del Instituto Peterson, dijo que Warsh se ha negado a dar incluso esa cantidad de iluminación.

Inflation is still above the central bank's 2% target.

La inflación sigue por encima del objetivo del 2% del banco central.

It cooled down after rising in May and June because of gas prices.

Se enfrió tras subir en mayo y junio por los precios de la gasolina.

Surveys show that the affordability of basic goods is a major problem.

Las encuestas muestran que la asequibilidad de bienes básicos es un problema principal.

That worries Americans ahead of the midterm elections.

Eso preocupa a los estadounidenses de cara a las elecciones de mitad de período.

Interest rates went up when Warsh spoke on July 29.

Las tasas de interés subieron cuando Warsh habló el 29 de julio.

That raised mortgage costs.

Eso elevó los costos hipotecarios.

Gennadiy Goldberg, from TD Securities, said Warsh talked about reducing inflation.

Gennadiy Goldberg, de TD Securities, dijo que Warsh hablaba de reducir la inflación.

But he had no clear answer on how to do it.

Pero no tenía una respuesta clara sobre cómo hacerlo.

Warsh also has not said if he believes core inflation is getting worse.

Warsh tampoco ha dicho si cree que la inflación subyacente está empeorando.

He also has not said how he measures it.

Tampoco ha dicho cómo la mide.

He cited the Fed's preferred measure.

Citó la medida preferida de la Fed.

But he suggested it could change next year.

Pero sugirió que podría cambiar el próximo año.

That would be after the recommendations from its working groups.

Eso sería tras las recomendaciones de sus grupos de trabajo.

President Donald Trump's calls for lower rates increase the pressure.

Los llamados del presidente Donald Trump a tasas más bajas aumentan la presión.

Trump is trying to remove Governor Lisa Cook.

Trump busca destituir a la gobernadora Lisa Cook.

Diane Swonk from KPMG wrote that the speech is an opportunity.

Diane Swonk, de KPMG, escribió que el discurso es una oportunidad.

Warsh can show his independence from political interference.

Warsh puede demostrar su independencia de la interferencia política.

August 27th, 2026

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