Kevin Warsh speaking at Jackson Hole today. Markets have been weird all week, probably because everyone's waiting to see what he says.

If he comes out dovish? That'd be pretty wild. Markets would love it. But honestly, Jackson Hole speeches are one of those things where everyone builds up massive expectations and then... who knows. Sometimes they matter, sometimes they don't.

The sloppy price action this week makes sense though — nobody wants to take big positions right before a Fed guy talks. Classic wait-and-see mode.