BREAKING: Fed Chair Warsh Signals Inflation Concern at Jackson Hole as September Rate Hike Odds Rise

TLDR

• The Dow, S&P 500, and Nasdaq all climbed Friday after Fed Chair Kevin Warsh spoke at the Jackson Hole Symposium.
• Warsh flagged concerns about persistent inflation, pushing the odds of a September rate hike to 55.7%, up from 35.4% the day before.
• The 2-year Treasury yield rose to 4.3%, while the 10- and 30-year yields dipped slightly.
• Nvidia’s bullish long-term AI outlook continued to lift tech stocks, following a strong Thursday session.
• Salesforce surged to its best day since 2020 after brushing aside concerns about a slowdown in software spending.

Stocks edged higher on Friday as Wall Street digested Federal Reserve Chair Kevin Warsh’s first Jackson Hole speech since taking the top job. All three major indexes finished the session in positive territory.

The Dow Jones Industrial Average rose around 0.37%, while the S&P 500 gained 0.49%. The Nasdaq Composite climbed 0.57%, building on Thursday’s tech-driven rally.

Warsh Puts Rate Hike Back on the Table

Warsh used his Jackson Hole address to stress concern about inflation staying above the Fed’s target. His remarks were seen as hawkish, meaning he left the door open to raising interest rates.

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