Fed Chair has to say something about inflation, says former Fed President Patrick Harker

• Fed Chair Powell must address inflation, the Treasury market situation, and the limits of the Fed's actions at Jackson Hole.
• Harker stresses the importance of policy consistency, noting that the Fed cannot be involved in bond buybacks while simultaneously fighting inflation.
• He believes the Fed has not yet solved the inflation problem and that some FOMC members still advocate for further rate hikes.

Former Philadelphia Fed President Patrick Harker states that Fed Chair Powell must address three key issues at the Jackson Hole symposium: inflation, the Treasury market, and the limits of the Fed's intervention. He emphasizes the need for consistency in policy, arguing the Fed cannot buy Treasuries while simultaneously fighting inflation, and that the inflation problem remains unsolved.