Market Brief: Bond Market Takeaways from Jackson Hole

The Issue at Hand by Madison Investments · Aug 31, 2026 · 7m · transcript

At the Federal Reserve’s annual Jackson Hole Symposium, Chair Kevin Warsh delivered a hawkish speech that reinforced the Fed’s commitment to a hard 2% inflation target and offered further insight into its “reaction function”, or the inputs that could trigger a change in interest rates. With inflation stubbornly above target, and external pricing pressures lingering, markets are increasingly pricing in the possibility that the Fed will raise interest rates.

In this Market Brief, Chris Aleman and Mike Sanders examine what Warsh’s comments and the subsequent market reaction mean for the bond…