Warsh signals Fed may need to raise rates if above-target inflation persists
Federal Reserve Chairman Kevin Warsh told the Fed's Jackson Hole economic symposium that the central bank may need to raise rates if inflation remains above target. Warsh said the Fed must be confident that inflation will move down to its 2% objective, or they will have to take action. He emphasized that price stability is the Fed's top priority and acknowledged that inflation expectations must be closely monitored.
Warsh's comments were seen as more hawkish than his previous remarks, and markets reacted by increasing bets on a rate hike next month.
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