Warsh vows to crush inflation but offers no hint on the Fed’s next move
Federal Reserve Chair Kevin Warsh has pledged to reduce inflation to the Fed's 2% target while navigating a divided committee on interest rate policy. Despite recent positive inflation data, the central bank remains cautious about future monetary adjustments.
Why it matters
The Fed's interest rate decisions directly influence global financial markets, borrowing costs, and the trajectory of the U.S. economy.
By CHRISTOPHER RUGABER Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] Leer en español --> Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. --> Share
WASHINGTON (AP) — Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps.
Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh said in his first appearance before Congress since becoming chair May 22, replacing former chair Jerome Powell. “And we share a resolute commitment to restoring price stability.”
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