As global leaders meet this week in Jackson Hole, Wyoming, the discussion will center around the theme of financial innovation, but the most important speech will likely be Warsh’s 10 a.m. ET talk on August 28.

With Treasury yields near multi-year highs and investors questioning the inflation outlook, Fed Chair Kevin Warsh's Friday morning keynote at Jackson Hole could prove as consequential for markets as any policy meeting this year.

The recent sell-off in U.S. government bonds underscores growing investor unease about the inflationary effects of the Iran conflict, expanding federal debt, and Washington's fiscal policies, pushing long-dated Treasury yields toward levels not seen since before the financial crisis.