Federal Reserve chairman Kevin Warsh warned inflation isn’t meaningfully slowing and said policymakers must be confident that it is, otherwise the central bank has “work to do.” In a sweeping speech, his first since becoming chairman of the central bank in May, Warsh reiterated that policymakers will return inflation to their 2% goal, which he said is a firm and fixed target.

The Federal Reserve chief seeks to clear up any ambiguity created by his late July press conference performance.

The Fed chair delivered highly anticipated remarks at the Kansas City Fed's annual symposium on Friday morning.