Federal Reserve Chairman Kevin Walsh will deliver a speech at the Jackson Hole annual economic conference next Friday. Investors expect him to explain how the Bank of America should deal with stubborn inflation, but it is uncertain whether he will make a clear statement. The chairman's communication strategy got off to a rocky start. After the July policy meeting, Walsh revealed little about his views on the economy and gave no forward-looking interest rate guidance. Investors interpreted his statement, believing that he was not determined enough to push inflation back to the target level, and long-term bond yields then climbed to a 20-year high.

Federal Reserve Chairman Kevin Walsh will deliver a speech at the Jackson Hole annual economic conference next Friday. Investors expect him to explain how the Bank of America should deal with stubborn inflation, but it is uncertain whether he will make a clear statement. The chairman's communication strategy got off to a rocky start. After the July policy meeting, Walsh revealed little about his views on the economy and gave no forward-looking interest rate guidance. Investors interpreted his statement, believing that he was not determined enough to push inflation back to the target level, and long-term bond yields then climbed to a 20-year high.