Fed chair says delivering ‘stable prices’ is central bank’s job as inflation persists

However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it is “the Fed’s job to deliver stable prices”.

Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran.

But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump , who has aggressively called for rates to be cut.

Continue reading...