Market Will Be Disappointed By Warsh: Gerrity

• The market is highly focused on Jackson Hole for Fed expectations, rates, and duration.
• Gerrity predicts the market will be disappointed by Chair Warsh's speech.
• The bar is very high to satisfy market curiosity, with many questions remaining, including recent Treasury announcements.
• Warsh is expected to deliver 'exactly what he has promised,' which is 'less' than what the market is anticipating, rather than an overly hawkish message.

Kelley Gerrity anticipates that the market will be disappointed by Fed Chair Warsh's upcoming speech at Jackson Hole. She believes that despite high market expectations for clarity on Fed policy and rates, Warsh will deliver 'less' than what the market hopes for, rather than an overtly hawkish message, failing to satisfy current market curiosity.