UBS On-Air: Paul Donovan Daily Audio 'Marshmallows and monetary policy'

Amidst the toasting of marshmallows at the Jackson Hole summer camp for economists, there are some hopes Federal Reserve Chair Warsh will offer a sensible structure for thinking about US monetary policy. Warsh’s communication style, telling investors “you figure it out”, is not working, creating uncertainty and introducing an unnecessary risk premium into financial markets.