Kevin M. Warsh is scheduled to give his first address as chairman of the Federal Reserve at the Federal Reserve Bank of Kansas City’s three-day annual conference in Jackson, Wyo. His speech, set for Friday at 10 a.m. Eastern, comes as U.S. government bond markets are on edge and inflation risks have resurfaced. Warsh is expected to outline how he views the economy, the Fed’s policy choices amid elevated inflation and potential productivity gains from artificial intelligence. He has made clear that bringing inflation down is a priority after five years of the central bank overshooting its 2 percent target, but he has discussed the prospect of raising interest rates only indirectly and opposes offering specific guidance on policy moves in September and beyond. The limited detail has created confusion inside and outside the Fed, overshadowing his broader plans for sweeping institutional change. The address may help reset that narrative after a rocky start. Warsh has recalled that his former Fed colleague and hero, Paul A. Volcker, described the central bank’s responsibilities as setting interest rates "about right" and ensuring that it "make sure you look like you know what you’re doing."