Central bankers and economists are gathering at the Federal Reserve’s annual Jackson Hole symposium, where chair Kevin Warsh is due to deliver a closely watched keynote speech. His remarks matter because investors want clarity on how the Fed will tackle persistent inflation while the Iran war adds pressure to the global economy and bond markets.

Warsh faces questions over his previous suggestion that markets should lead financial tightening, and over Treasury secretary Scott Bessent’s purchases of long-dated US bonds to reduce borrowing costs. Analysts warn that lower long-term rates could stimulate the economy and complicate efforts to restrain inflation, potentially putting the Treasury and Fed at odds. The speech is scheduled for 3pm UK time, alongside data releases including eurozone inflation, Canadian GDP and US consumer sentiment.