It’s Jackson Hole time!

As he prepares to deliver his first keynote address as Federal Reserve Chair, Kevin Warsh faces a delicate balancing act: how to navigate a remarkably high and varied set of expectations. On one side are those who want him to follow his predecessors’ tradition of detailing his immediate "reaction function" alongside forward guidance. On the other are those who hope he returns to the original secular spirit of this unique gathering. This would mean focusing on a growing, c — via @elerianm

First keynote address as Fed Chair signals major policy shift risk.