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

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.