Fed Chair Warsh not ruling out interest rate hike amid inflation concerns
Federal Reserve Chair Kevin Warsh said there is still work to do on inflation. At the Fed's annual economic symposium in Jackson Hole, Wyoming, Warsh also said that although he is not committed to a rate hike, he is not ruling it out. Amna Nawaz discussed more with Nick Timiraos of The Wall Street Journal.
New York and Düsseldorf – Once a year, the quiet Jackson Hole in the US state of Wyoming transforms into the most important stage for monetary policy. On this Friday, rain had fallen in the picturesque surroundings of Strömen. However, everyone's attention was now on the new head of the US Federal Reserve (Fed). His speech took place in a dry conference room, after the last rate hike in July had sparked much criticism towards Fed Chair Kevin Warsh.
He began by acknowledging his critics, at least partially. Warsh drew inspiration from his hikes with former Fed officials Donald Kohn and Ben Bernanke, a nod to the term "hike" in monetary policy, which refers to an interest rate increase. He signaled a hawkish tone, a reference to advocates of a tighter interest policy.
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