Fed Chair Kevin Warsh warned inflation has not meaningfully slowed and said
policymakers must be confident inflation is heading toward the 2% target or the
central bank "has work to do." He reiterated the Fed will bring inflation back
to 2%, calling that a clear, fixed goal. Warsh said his standard is certainty
that underlying inflation is moving to the target at a pace that is sufficiently
clear and fast; otherwise further action will be required. He added financial
conditions are not currently restrictive and the policy rate remains the Fed's
primary tool.
