Fed Chair Kevin Warsh Kept Quiet for 3 Months. Jackson Hole Might Change That.

80% of economists surveyed by CNBC want Federal Reserve Chairman Kevin Warsh to explain his economic thinking when he delivers his first Jackson Hole keynote on Friday.

The poll of 31 economists, strategists, and investors also shows deep division over how far he should go. Respondents split 48% to 48% on whether Warsh should address the rate outlook at all.

Warsh Silence Divides Wall Street

Warsh has said little about the economy or his policy outlook since taking office in May. This marks a departure from how earlier chairs handled the job. He has said this lets him get a cleaner view of market pricing, unfiltered by Fed guidance.

Most of the panel expects the silence to hold. The largest bloc, 45%, thinks Warsh says nothing about rates on Friday, against 32% who see a somewhat hawkish tone and 19% who expect neutrality.

Constance Hunter, chief economist at Economist Enterprise, argued that the strategy has pushed communication onto other officials and speeches.

"He has abdicated his role in communicating about the reaction function," Hunter said.

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