Rising borrowing costs are taking a toll on households and businesses. But they are doing little to dampen enthusiasm for investments in A.I. infrastructure, which are contributing to inflation.

Kevin M. Warsh is scheduled to deliver his first address at the Federal Reserve’s annual conference in Jackson, Wyo., with U.S. government bond markets on edge and inflation risks resurfacing.

Treasury Secretary Scott Bessent is reinventing the government’s role in the world’s most important bond market.

The latest Consumer Price Index report helped to reinforce the patient approach adopted by many officials at the Federal Reserve about raising rates, but it has not resolved the debate altogether.

The Federal Reserve has met at least eight times a year for decades. Reducing the number of meetings would represent the biggest change by Kevin M. Warsh since he became chairman.

Kevin M. Warsh has made taming inflation the top priority of his tenure as Federal Reserve chairman. But his hesitancy to embrace the possibility of higher borrowing costs has sparked a backlash.

Kevin M. Warsh, presiding over his second meeting as chairman of the central bank, faces pressure to raise interest rates as inflation remains elevated.

Kevin M. Warsh, who has said the Federal Reserve has “no tolerance” for elevated inflation, must decide whether he wants to push for an interest-rate increase at this week’s policy meeting.

The Federal Reserve is expected to hold rates steady at its July meeting, but officials have not written off the possibility of a move soon after.

Kevin M. Warsh, since becoming chairman of the Federal Reserve, has declined to say whether he supports higher interest rates to tame price pressures.

Christopher J. Waller, a governor at the Federal Reserve, said he needs to see several months of lower inflation data to feel confident about the outlook.

Thank you, Jack, for that kind introduction. It is a great privilege to be here tonight with you, Ambassador Kennedy, and your family. And thank you to the JFK