Kevin Warsh, who began his role as chairman of the Federal Reserve in May, said Wednesday officials have “no tolerance for persistently elevated inflation.”

Kevin Warsh, who began his role as chairman of the Federal Reserve in May, said Wednesday officials have “no tolerance for persistently elevated inflation.”

After the Dow falls by 1,000 points, the index typically is weak in the week that follows. The average then posts gains in the next month and three months.