According to CoinMeta, as reported by an early issuer of in, Greg Gitzee, head of Nomura's Fixed Income and Municipal Bonds division, stated that Federal Reserve Chairman Kevin Warsh's speech at the Jackson Hole Conference clarified the Fed's policy framework. The PCE remains the preferred inflation indicator, and the 2% inflation target is not compromiseable; policy rates remain the primary monetary policy tool. He believes it is difficult to describe the overall financial environment as restrictive, and there are no signs that credit and lending activities have been curbed. However, the wording of Warsh's speech echoes the statements made at the press conference, which does not necessarily mean that the Fed is about to shift its policy.