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Warsh said the Fed has "work to do" if inflation doesn't return to 2% with speed, but declined to commit to either forward guidance or a reaction function
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Federal Reserve Chairman Kevin Warsh warned Friday that recent inflation readings have not demonstrated meaningful improvement in underlying price trends, while stopping short of signaling whether interest rates would need to rise.
Speaking at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming — his first keynote address at the event — Warsh said the central bank remains squarely focused on bringing inflation to heel. "We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed," he said in prepared remarks. "Otherwise, we have work to do. That's our job . . . our mandate . . . and our charge to keep."
