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During remarks by Fed Chair Kevin Warsh, non-dollar currencies broadly weakened: USD/JPY rose about 50 pips to 159.87, EUR/USD fell about 50 pips to 1.1607, and GBP/USD fell about 50 pips to 1.3545.

2026-08-28

During remarks by Fed Chair Kevin Warsh, non-dollar currencies broadly weakened: USD/JPY rose about 50 pips to 159.87, EUR/USD fell about 50 pips to 1.1607, and GBP/USD fell about 50 pips to 1.3545.

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2026-08-28

At Jackson Hole, Fed Chair KEVIN WARSH said forward guidance should be limited; communication transparency is not an end in itself and over-sharing deliberations or over-committing on future decisions can mislead markets, firms and households. He sai

At Jackson Hole, Fed Chair KEVIN WARSH said forward guidance should be limited; communication transparency is not an end in itself and over-sharing deliberations or over-committing on future decisions can mislead markets, firms and households. He said policymakers must be confident that underlying inflation is moving toward the 2% PCE target or “there is more work to do”; inflation data have not shown a clear improvement in trend and medium-term inflation expectations remain broadly stable. The Fed’s 2% PCE objective is a firm, fixed target and the Fed’s current primary focus should be on prices. Credit and loan markets show little sign of policy tightening and financial conditions are not restrictive; interest rates are the Fed’s “main tool.” Warsh said the probability of substantially stronger growth has risen, Main Street and Wall Street has shown surprising resilience, and the labor market is relatively stable. He flagged artificial intelligence as a new variable for the economy and policy implementation, and described early engagement with working-group leaders on Reforms are encouraging.
2026-08-28

After a visit by the US CIA director to Moscow, the Russian Defense Ministry released footage showing a mobile launch of a solid-fuel ICBM from the Plesetsk Cosmodrome, saying the training warhead reached the designated impact area at the Kura test r

After a visit by the US CIA director to Moscow, the Russian Defense Ministry released footage showing a mobile launch of a solid-fuel ICBM from the Plesetsk Cosmodrome, saying the training warhead reached the designated impact area at the Kura test range on the Kamchatka Peninsula.
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