New Fed Chair Kevin Warsh said the Fed would "deliver price stability in the US."
Specialist Patrick King, left, and trader Mark Puetzer work on the floor of the New York Stock Exchange, Friday, Jun 26, 2026. (Photo: AP/Richard Drew)
02 Jul 2026 01:02AM
(Updated: 02 Jul 2026 05:43AM)
NEW YORK: Wall Street stocks retreated following a choppy session Wednesday (Jul 1) as Federal Reserve Chair Kevin Warsh emphasised the need to tame inflation ahead of closely-watched US jobs data. Appearing on a panel with other leading central bankers, Warsh emphasised he was committed to returning inflation to the Fed's two per cent target. "We're going to deliver price stability in the US," Warsh said. "That's what this committee has signed up to do."Warsh delivered a similar message at a press conference last month following his first Fed meeting as chairman. The comments came ahead of Thursday's release of monthly US jobs data for June. Analysts expect the US economy added 110,000 jobs last month and the unemployment rate held steady at 4.3 per cent. Payroll firm ADP estimated the private sector added 98,000 jobs last month, according to data released Wednesday.In the first session of the third quarter, US equities showed signs of fatigue after a blowout second quarter. All three major indices finished lower, led by the Nasdaq, which fell 0.7 per cent.
