Welcome back to Friday! The world’s most important mountainside monetary policy conference began today, capping off another week of news focused on bond markets, interest rates, and Fed policy.
\n\nWe wish we could tell you that we were writing this with a fishing pole in hand while we wait for the Teton trout to take our flies. Sadly, we’re out on the coasts—Alex is west, and John is east. That has not stopped us, however, from launching a video edition of Breitbart Business Digest, which you should definitely check out.
\n\nOn Friday, Fed Chairman Kevin Warsh gave his first address to the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. Ominously for monetary doves, Warsh began his speech by talking about hiking. In fact, he used the word “hike” three times in the first three paragraphs of his address.
\n\nSo has Warsh given up his campaign to eradicate forward guidance? Of course not. He was talking about actually hiking. Like, up in the mountains around Jackson. He described hiking in the Tetons with former Fed Vice Chairman Don Kohn as “steely marathon death marches” and said that the most notable thing about them was his own survival.
\n\nThe substance…
Original source: https://www.breitbart.com/economy/
