The pressure on Federal Reserve chairman Kevin Warsh to tighten monetary policy has receded a bit.The Consumer Price Index report for June was benign. Not only did overall rate of inflation fall, helped by the sharp drop in gasoline prices, but also the core measure, which excludes food and energy prices, was much better behaved as well.Bloomberg OpinionSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
The Federal Reserve needs to tighten monetary policy
If the Fed dawdles, the risk is that market participants will judge Fed chairman Kevin Warsh’s tough talk as “all hat, no cattle”.
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