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Fed will have "work to do" if inflation doesn't fade, Warsh says
Developing
During remarks at the Fed's annual conference, Warsh said that recent government data shows inflation has cooled, but "they do not tell me that underlying trends have meaningfully improved. Although inflation remains hot, Warsh said he is "impressed by the overall performance of the economy," touting measures such as the nation's unemployment rate, which sat at 4.1% in July.
"We must be confident that underlying inflation is moving to our objective clearly and at sufficient speed," Warsh said. During the speech on Friday, Warsh again made the case for limiting forward guidance on future Fed policy decisions, which he has argued limits the central bank's flexibility by committing it to a specific policy path.
What's confirmed
What's still developing
- During remarks at the Fed's annual conference, Warsh said that recent government data shows inflation has cooled, but "they do not tell me that underlying trends have meaningfully improved.
- "We must be confident that underlying inflation is moving to our objective clearly and at sufficient speed," Warsh said.
- Although inflation remains hot, Warsh said he is "impressed by the overall performance of the economy," touting measures such as the nation's unemployment rate, which sat at 4.1% in July.
- During the speech on Friday, Warsh again made the case for limiting forward guidance on future Fed policy decisions, which he has argued limits the central bank's flexibility by committing it to a specific policy path.
Sources
- CBS Newslink