Kevin Warsh’s inauspicious start as chairman of the Federal Reserve has guaranteed that his speech on Friday at the central bank’s annual Jackson Hole conference will command rapt attention. He might wish it were otherwise: Investors demanding clear answers to their many questions are almost certain to come away disappointed.

Warsh can and should try to dispel some of the doubts that have arisen since his appointment began in May. But it’ll be a while before he can provide a definitive account of his preferred approach to monetary policy. Having commissioned five task forces of eminent experts to offer advice, he has little choice but to wait until they’ve reported back and he and his colleagues have discussed the findings.

The best he can do this week is tell investors he understands the concerns his reluctance to explain the Fed’s reasoning has aroused and will strive to address them. Together with affirming his........

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