The main event for markets today will come from Jackson Hole later, with all eyes on Fed chair Warsh's keynote speech.He will be put under the microscope in needing to provide more clarity on how the Fed would look to deal with inflation pressures, that especially if things continue down this path. Last month, he did suggest that he wanted markets to take the lead but the US Treasury intervention has definitely made things more complicated.With long-term bonds being pressured, Warsh will be under heavy scrutiny in communicating how the Fed views that. And if not, what the Fed response will be on the Treasury's intervention and if said action will interfere with the central bank's policy path and/or monetary policy transmission.From earlier this week: Will Warsh play it cool and let Bessent take the wheel for now?Goldman Sachs is one to think that there won't be much to gather from Warsh's speech later though. The firm notes that:"We expect Warsh to reiterate his commitment to the 2% inflation target, expand on the rationale behind his approach to Fed communication, and offer thoughts on some bigger picture topics such as productivity growth or shocks to the global economy that he alluded to at his last press conference. He is likely to acknowledge the better recent inflation news but is unlikely to provide policy guidance. The theme of this year's symposium is "Financial Innovation: Implications for Payments and Policy." The papers are likely to discuss topics such as stablecoins and should have little immediate relevance to monetary policy decisions."And they are not alone. Deutsche also agrees that Warsh is unlikely to offer much of anything that we don't already know:"Warsh's Jackson Hole speech provides a timely opportunity for the Fed's new leader to clarify his vision for the central bank, either through a "big picture" talk focused on the task forces or through a policy-relevant discourse that cleans up some missteps in recent communications and presents scenarios for the outlook. Given his overall inclination to provide limited information about the policy outlook, we think his comments will most likely skew to the former, though we will be attentive to any additional signals on the latter." This article was written by Justin Low at investinglive.com.