AP: Fed chair Kevin Warsh said Friday inflation remains too high and hinted the
The Fed may need to raise interest rates in coming months to bring it down, a firmer
stance than his prior remarks. In prepared Jackson Hole remarks he acknowledged
recent data show some slowing but said those figures do not indicate a
meaningful improvement in the overall trend. "We must be confident that
underlying inflation is moving toward our target, otherwise there is still a lot
of work to do," he said. Warsh expressed skepticism about forward guidance and
declined to lay out an overall rate strategy, while noting current rate levels
are not impeding economic activity.
