Kevin Warsh advocates for alternative measures of underlying inflation, challenging the Federal Reserve's reliance on its standard 2% target gauge.

The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.

Kevin Warsh advocates for alternative measures of underlying inflation, challenging the Federal Reserve's reliance on its standard 2% target gauge.

Even when temporary outlier categories are out of the picture, prices still rose more than the Fed’s 2% target in April.