The Federal Reserve Board holds an annual meeting in Jackson Hole, Wyoming, each year about this time, and this year’s meeting is now. It’s always a “must-watch” event, but this year, amidst persistent inflation and with a new Fed chairman, Kevin Warsh, it drew additional attention. Despite that attention, during Warsh’s speech this morning, the Chair said little to give away his strategy about the Fed’s intentions and did not provide commitments to the Fed’s approach to forward guidance or reactions to economic data signals. He did say, however, that inflation is still with us, citing this summer’s inflation reports as higher than expected, but “… do not tell me that the underlyi...