Lates News

Fed Chair Warsh stressed in his opening remarks at the press conference that neither he nor other policymakers are satisfied with the current pace of inflation. He said: "Our primary focus right now is on the price stability side of our monetary policy mandate. The fact is simple: inflation is too high, and it has been too high for too long. The inflation data this summer has not shown me meaningful improvement in the underlying trend." He noted that in recent CPI and PPI data, there are still too many categories with gains exceeding 3% over the past 6 and 12 months. The Fed Chair emphasized that the FOMC's goals are clear and vital: to achieve maximum employment and price stability, and to promote a thriving U.S. economy that serves as a global benchmark.