Fed Chief Kevin Warsh once again plays the inflation fighter, but doubts about his determination remain.
In the US, inflation has recently slowed. However, in a highly anticipated keynote speech, Warsh said inflation was still too high. The markets interpreted this as a declaration of war.
US Federal Reserve Chairman Kevin Warsh has stated that inflation in the US remains too high, despite recent signs of slowing. Speaking at the Jackson Hole economic conference in Wyoming, Warsh emphasized that the Fed's primary focus must be on price stability, not economic growth. He noted that inflation indicators, including the PCE price index, are above the 2% target, at 3.7%. Financial experts have interpreted Warsh's comments as a signal that the Fed may raise interest rates at its next meeting on September 16.
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Also reported by 6 other outlets
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- ‘We have work to do’: Fed Reserve Chair Warsh suggests rate hike in coming months amid high inflation fortune.com
- Fed chief does not rule out need for action due to inflation derstandard.at
- Jackson Hole Fed summit live: Kevin Warsh's keynote speech comes at a pivotal moment for the Federal Reserve finance.yahoo.com
