Warsh takes ownership of inflation risk

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White House Headlines - August 28, 2026

White House Headlines - August 28, 2026

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It’s Friday. Leaf your worries behind — fall is almost here (or so my allergies believe).

Warsh takes on inflation

Warsh takes on inflation

U.S.-Canada trade war makes waves

U.S.-Canada trade war makes waves

Six months later, Iran war grinds on

Mail-in ballot rules hit the brakes

Programming note: Hello! We are Steff Danielle Thomas and Colin Meyn filling in for Cate. Please send your tips, comments and story ideas to sthomas@thehill.com or cmeyn@thehill.com.

Warsh gives rate cut hopes a reality check:

The Associated Press | Mark Schiefelbein

Federal Reserve Chair Kevin Warsh used his closely watched speech Friday in Jackson Hole, Wyo., to send a pretty clear message: Inflation is still too high, and the Fed isn’t ruling out doing more about it.

Warsh said the central bank needs to see inflation moving “clearly and at sufficient speed” toward its 2 percent target — otherwise, “we have work to do.” He also said responsibility for controlling inflation “sits squarely” with the Fed.

Translation: Interest rate hikes could be on the horizon. While he did not commit to a move or timeline — keeping with his aversion to giving markets “forward guidance” — Warsh suggested current rates may not be doing much to slow the economy. 

The Trump factor: President Trump has spent most of his second term pushing the Fed to lower borrowing costs — a pressure campaign that began under former Fed Chair Jerome Powell. The new chair’s Friday message cuts against that push.

The Fed panel in charge of rate decisions will meet Sept. 15-16. While rates may remain steady at that meeting, the chances of a hike this year appear to be rising. 

📰 Read more here from The Hill’s Miranda Nazzaro.

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🌊The US-Canada trade war is making waves beyond tariffs: 

Trump signed an executive order Thursday to change the name of Lake Ontario to “Lake America,” following through on an idea he floated earlier in the week as tensions with Canadian Prime Minister Mark Carney escalated.

Canada says, not so fast: Carney responded with a little history lesson, noting that Lake Ontario’s name comes from the Wendat word........

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