Fed Chairman Kevin Warsh delivers his key Jackson Hole speech Friday. Here's what to expect

Federal Reserve Chairman Kevin Warsh speaks during a news conference at Federal Reserve headquarters in Washington, July 29, 2026.Win Mcnamee | Getty ImagesThe Federal Reserve's cryptic chairman is set to deliver his much-awaited keynote address Friday in Jackson Hole, with markets trying to anticipate what, if anything, he will have to say on key matters affecting the economy and monetary policy.Kevin Warsh will speak during the Fed's annual symposium in Wyoming, an event this year that is titled "Financial Innovation: Implications for Payments and Policy."Prior Fed chairs have used the speech as an opportunity to discuss broad policy frameworks and intentions on where they see policy and interest rates headed, beyond the main focus of the conference.But given his approach so far since taking the reins in May, a time during which Warsh has placed a far greater emphasis on market direction than cues from the Fed, it's hard to know what to expect."People keep asking me what I'm expecting, and I'm not really expecting much of anything. I think it's hard to predict what he's going to say," said Luke Tilley, chief economist at M&T Bank and Wilmington Trust Investment Advisors. "If ...