New Delhi, Aug. 26 -- Federal Reserve Chair Kevin Warsh heads into his first Jackson Hole speech with an extremely difficult task in hand! He has to convince markets and the US audience that the central bank is serious about bringing inflation back to 2% without adding fresh pressure on the bond market, which is already showing signs of strain.

The timing could not have been more complicated.

Currently, the inflation remains much above the central bank's original target. The Personal Consumption Expenditures Price Index, which the Fed uses ​to set its target, increased 3.7% in the 12 months through July, the Commerce Department's ​Bureau of Economic Analysis said on Wednesday, Reuters said. These numbers raised the expectati...