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Fed chairman Kevin Warsh. Photo: Al Drago/Bloomberg via Getty Images
In his press conference Wednesday, Federal Reserve chairman Kevin Warsh started by asserting that the central bank will not waver in its pursuit of 2% inflation. Then, he repeatedly declined opportunities to connect that commitment to any concrete action.
The big picture: Warsh has long offered gauzy, high-level critiques of how the modern Fed operates. On Wednesday, he described candid discussions of the biggest conceptual issues for monetary policy. But he was elusive and vague on central banking basics.
