Fed chair Kevin Warsh opened the press briefing by reiterating the Fed's firm
commitment to a 2% YoY inflation target and saying the central bank will be
steadfast in achieving price stability. He called withholding forward guidance
amid current uncertainty a 'prudent' approach and stressed there is no 'soft
inflation target' or other implicit goals — 2% is the sole target. Warsh
described the US economy as 'impressively resilient', saying it has withstood
recent shocks and the underlying trend remain positive.
