Markets will watch whether Wosh repairs communication after July’s vague, evasive answers; Natixis expects him to frame any rate hike as necessary to ensure inflation returns to target promptly. If the Fed raises rates as expected this week, attention will be on whether Wosh views energy- and tariff-driven inflation as one-off supply shocks or as more persistent/second-round/expectations-driven pressure—emphasizing the former would reduce perceived need for further tightening, the latter would e

Markets will watch whether Wosh repairs communication after July’s vague, evasive answers; Natixis expects him to frame any rate hike as necessary to ensure inflation returns to target promptly. If the Fed raises rates as expected this week, attention will be on whether Wosh views energy- and tariff-driven inflation as one-off supply shocks or as more persistent/second-round/expectations-driven pressure—emphasizing the former would reduce perceived need for further tightening, the latter would elevate tightening risk. Reuters flags political sensitivity: Trump has pushed for cuts while markets expect hikes; watch Wosh’s response to Trump, whether he reasserts FOMC independence, avoids naming Trump, or stresses “data dependence.” Wosh has tended to avoid forward-rate guidance; after July’s confusion and a hawkish turn at Jackson Hole, markets will watch for any change in messaging or a renewed insistence he has “no tolerance” for inflation. With the 10-year Treasury yield above 5% on Sept. 14, traders will also look for any comments addressing further bond sell-offs and concerns about fiscal- or inflation-related risk premia.