Fed chair Kevin Warsh opened his press conference saying he and other policymakers are dissatisfied with the current pace of inflation. He said price stability is their primary focus and that "inflation is too high and has persisted too long," adding this summer's data has not shown a meaningful improvement in trend. Warsh flagged that recent CPI and PPI releases include too many categories with six- and 12-month gains above 3 pct. He reiterated the FOMC's remit to achieve full employment and pr

Fed chair Kevin Warsh opened his press conference saying he and other policymakers are dissatisfied with the current pace of inflation. He said price stability is their primary focus and that "inflation is too high and has persisted too long," adding this summer's data has not shown a meaningful improvement in trend. Warsh flagged that recent CPI and PPI releases include too many categories with six- and 12-month gains above 3 pct. He reiterated the FOMC's remit to achieve full employment and price stability and to support a robust US economy.