Warsh: Inflation Still Above Target, Fed Has More Work to Do

Odaily News Federal Reserve Chairman Warsh warned that inflation has not shown meaningful signs of slowing, and stated that policymakers must be confident inflation is moving in the right direction, or the central bank still has "more work to do."

Warsh reiterated that the Fed will bring inflation back to its 2% target. He stated that this is a clear and fixed goal. Warsh said: "My standard is that we must be confident that underlying inflation is moving toward our target, and at a pace that is clear and fast enough. Otherwise, we have more work to do. That is our job." Warsh also noted that current financial conditions are not restrictive, and that interest rates are the Fed's "primary tool" for fulfilling its mandate.