Fed Takes Center Stage in White House Inflation Policy Shift

White House Council of Economic Advisers Chairman Christopher Phelan stated on Friday's broadcast of Bloomberg's 'Open Interest' that the administration is leaving inflation policies to the Federal Reserve. When asked if there were any further anti-inflation measures planned, Phelan pointed to Fed Chairman Kevin Warsh's comments on inflation being a central bank issue.

'I would leave it with the man I consider to be a very capable choice for Fed Chairman,' Phelan said, referencing Warsh's statements. Warsh had noted that inflation has been above target for 65 straight months and that he has been chairman for 100 days.