Kevin Warsh, the new Federal Reserve chair, has changed how the central bank communicates by saying much less than his predecessors about the economy and inflation.

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

On Friday, Warsh will speak at the Fed’s annual economic symposium in Jackson Hole, Wyoming.

He has a high-stakes chance to address those concerns.

Economists want a clear signal on how he thinks the Fed should handle inflation, which remains above the central bank’s 2% target.

At his last press conference on July 29, he confused people by avoiding repeated questions on whether the Fed would hike its benchmark interest rate if inflation stays high.

Warsh says he does not want to provide "forward guidance" about future rate moves.

He argues that it limits the Fed’s flexibility.

Some economists say he could explain his policy framework without tipping his hand.

Warsh has said his speech will focus on "big questions" like AI, productivity, and demographic changes.

He has not said whether he thinks "underlying inflation" is worsening or how he measures it.

He cited the Fed’s preferred inflation gauge but suggested that could change next year.

He also said higher rates "could well be part of that solution" but would not say if they would be used alone.

President Donald Trump’s calls for lower rates and his efforts to remove Fed governor Lisa Cook have added to the Fed’s credibility problems, economists say.

Diane Swonk, chief economist at KPMG, wrote that Warsh’s speech is a chance to show independence from political interference.

Economists say a clearer statement of how the Fed might react if inflation stays high would help.

If Warsh eases concerns, longer-term interest rates could fall slightly.

The 30-year Treasury bond rate hit a 19-year high last week.