Fed: Warsh says there is work to be done on inflation, but he is not here to make a decision

(Il Sole 24 Ore Radiocor) - Federal Reserve Chairman Kevin Warsh has suggested that the central bank may not yet be done fighting inflation, stating that financing conditions do not appear restrictive to him and that recent price data, whilst better, have not convinced him that the trend is improving. “We need to be certain that core inflation is moving towards our target, clearly and with sufficient speed. Otherwise, we have work to do,” he said in his first speech as Fed Chairman, a much-anticipated debut at the Federal Reserve Bank of Kansas City’s annual symposium in Wyoming. Warsh did not comment on the possibility of a rate rise at next month’s Fed meeting and gave no indication of possible future moves, in line with his approach of more concise communication from the central bank regarding future decisions. “I am here today to fulfil a commitment, not to make a decision,” he said.

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