Blog: New Fed Chair, Same 2% Pipe Dream

Last week new Fed Chair, Kevin Warsh, made his first Jackson Hole appearance. For those of you unfamiliar with this annual ritual, the Jackson Hole Economic Policy Symposium is where members of the Federal Reserve, prominant economists, academics and policy makers meet (by invitation only) to discuss economic issues. The most publicly watched part of the symposium is the keynote address given by the current Chair of the Federal Open Market Committee. At this year's symposium there was hope the Warsh would clarify his positions a little. In his last couple of appearances he left everyone confused, as I discussed here.