Jackson Hole put the Federal Reserve back at the center of the market conversation. In this episode, we unpack the key messages from Chairman Kevin Warsh’s speech, what they could mean for the path of interest rates and inflation, and why housing affordability may improve over time even without a meaningful decline in home prices.

Consumer Price Index (CPI): An index that measures changes in the prices of a basket of goods and services purchased by consumers and is commonly used to gauge inflation.

Core Personal Consumption Expenditures (PCE) Price Index: An index that measures changes in consumer prices excluding food and energy to provide a clearer view of underlying inflation trends.

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