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A hawkish signal from the top of the Federal Reserve has sharpened expectations for tighter monetary policy when policymakers convene in September.
Hawkish, as central bankers use the word, means leaning toward higher interest rates rather than lower ones, typically because the official believes that cooling borrowing demand is still necessary to keep inflation in check.
Federal Reserve Chair Kevin Warsh delivered that posture at the Jackson Hole conference, and analysts assessing the speech say it could put the Fed on a collision course with the Treasury before the September decision arrives.
What the Jackson Hole speech signals The Jackson Hole symposium draws economists and market participants because the officials who speak there are generally the same ones who vote on interest rate decisions.
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