Robertson Stephens Weekly Commentary – August 31, 2026

Federal Reserve Chairman Kevin Warsh used his speech at the Jackson Hole Economic Symposium to take back a bit of control over the interest rate narrative. He successfully communicated — for the first time during his short tenure — his views on the economy and his concerns about inflation. Last week, major U.S. stock indexes were mixed, with the S&P 500 Index and Nasdaq Composite Index recording modest gains while mid- and smaller-cap benchmarks declined. Strong results from tech giant NVIDIA and declining oil prices supported investor sentiment, while market participants also interpreted Federal Reserve Chair Kevin Warsh’s much-anticipated speech at the annual monetary policy conference at Jackson Hole, Wyoming. On the wealth planning front, we discuss how Private Placement Life Insurance can support tax-efficient growth and estate planning for ultra-high-net-worth families.