Warsh asserts in Jackson Hole that the Fed will have "work to do" if inflation doesn't fall soon
"La Reserva Federal debería centrarse principalmente en los precios en este momento", afirma el presidente del banco central. Leer
Federal Reserve Chairman Kevin Warsh suggested that the central bank is prepared to raise interest rates if inflation doesn't decrease soon, warning that persistently high price growth has become "more concerning". Speaking at the Kansas City Federal Reserve's symposium in Jackson Hole, Warsh indicated that policymakers would have "work to do" if inflation in the US doesn't moderate soon.
This led to increased bets on Wall Street that there would be new rate hikes, with the probability of a rate increase at the Fed's next meeting in September rising to 57% after Warsh's speech. The 2-year US Treasury yield rose 9 basis points to 4.32% following Warsh's comments, and the dollar advanced 0.4% against a basket of six currencies.
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