Warsh's Jackson Hole Inflation Vow | Bloomberg Businessweek Daily 8/28/2026

Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing, but vowed policymakers will return inflation to their 2% goal. Bloomberg News' Economics & Policy Correspondent Mike McKee is in Jackson Hole where Warsh gave his first speech since becoming chairman of the Central Bank. Brooke May, Managing Partner at Evans May Wealth, also reacts to Warsh's inflation vow with some skepticism. Then, Linamar Executive Chair Linda Hasenfratz discusses President Trump's tariff threats on the Canadian cars and auto parts, saying if a 50% tariff is imposed by next year it would bring the industry "to its knees."  Finally, Affirm Founder & CEO Max Levchin explains how his company sets rates and keeps up with a growing industry, arguing Affirm's transparency makes it stand out from competitors. Chapters 00:00:00 Opening: Jackson Hole Fed Friday 00:02:13 Market Update: Stocks Fall, Yields Rise 00:04:19 Kevin Warsh's Inflation Warning 00:05:44 What Warsh's Speech Means for the Fed 00:07:15 Could the Fed Hike Rates in September? 00:08:03 Jackson Hole, Lisa Cook & Jay Powell 00:11:20 Investor Reaction to Warsh's Speech 00:12:45 Can the Fed Really Get Inflation Back to 2%? 00:16:15 Midterms, Markets & $7 Trillion on the Sidelines 00:20:58 Canada Retaliates With New U.S. Tariffs 00:21:42 Linamar on the U.S.-Canada Auto Trade War 00:23:16 How Auto Tariffs Could Hit Consumers 00:24:24 Trump's 50% Auto Tariff Threat 00:26:03 Could Tariffs Shut Down North American Auto Production? 00:27:24 Can the U.S. and Canada Reach a Deal? 00:32:35 Market Update: Stocks Slide, Yields Jump 00:34:19 Affirm CEO on the Health of the U.S. Consumer 00:36:01 What Consumers Are Financing With Affirm 00:37:50 Affirm vs. Credit Cards & Klarna 00:39:27 Affirm's Bank Charter & In-Store Expansion 00:43:20 Stock Movers: PayPal, Affirm & BioNTech -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts