S&P 500 futures edged lower ahead of Federal Reserve Chair Kevin Warsh's address at the Jackson Hole Economic Symposium. Warsh is expected to lay out his thinking on the Fed's interest rate trajectory. Markets are pricing in some caution before the speech, with equity futures moving negative in anticipation.
Any signal that Warsh favors keeping rates higher for longer would pressure equities, particularly growth and tech stocks whose valuations are sensitive to the cost of borrowing. A more dovish tone could reverse the futures slide quickly. Until the speech lands, the market is in a holding pattern.
Jackson Hole Symposium speech by Fed Chair Warsh (date to be confirmed). Next FOMC rate decision window: September 2025.
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