Claire Jones
speaker
248 appearances
11 recordings
2 series
first heard Jan 2026
last heard 17 Sep
Claire Jones’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 11 in all, peaking in Aug 2026 with 2.
Appearances
Well, absolutely, more than five years, in fact.
So the rationale for acting now, which Walsh gave yesterday at the press conference, was that the recent news on inflation has suggested that the Feds not be making much progress in terms of lowering it towards its target.
The other aspect of it was that Walsh and the rest of the committee were very bullish on the US economy.
And the other part of the Fed's dual mandate, which is not about inflation but about the labour market, is an area in which he thinks quite a lot of progress has been made.
We've seen a very good jobs report for last month.
And I think that's really convinced Walsh and others on the committee that they can afford to raise rates without damaging growth and jobs.
I think that's true.
The raising interest rates, especially by a quarter point, is not a cure all.
But what I think this move does do is address some very real concerns headed into this meeting that the Fed and Walsh in particular wasn't credible when it came to a commitment to bring inflation back under control.
And it will help reassure investors in those bond markets that you mentioned earlier that Fed independence remains and that will do some good, I think.
Well, he got the question and he chuckled and then said very little.
Walsh was savvy enough yesterday to not get drawn into saying anything that might
um exacerbate issues that the Fed has with the White House.
The mood music around this in recent days has been that, you know, while this isn't a decision that the White House will like, it did after all nominate Walsh with a view to seeing him cut US borrowing costs, not raise them.
He's unlikely to face the sort of insults that his predecessor Jerome Powell got from the US president.
I wouldn't expect Walsh to be labelled a numskull or a moron anytime soon.
So this is his first big public address at Jackson Hole, and it's the first time he's gonna be speaking in public since the press conference for the July meeting that led to a lot of criticism from economists that he's not doing enough to explain how he views the US economy right now and how the Fed should respond to that.
What I think
we're expecting him to address in Jackson Hall, is why he's taking this approach to communications, where he's saying a lot less than his predecessors, and to provide some justification for it, and to maybe explain a little bit where his approach so far has gone wrong.
I think it adds to the sense that there's a lot of pressure on Walsh to really
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