Warsh Faces Fire Over Inflation Report

Pressure is mounting on Federal Reserve Chairman Kevin Warsh to raise interest rates at next week's policy meeting following a recent inflation report. The data, released by the Bureau of Labor Statistics, showed that underlying inflation rose more than expected in August, with the core consumer price index increasing 0.3% from a month earlier.

The report bolsters the argument made by several policymakers that the Fed must act to curb price pressures after more than five years of elevated inflation.

Fed Chairman Kevin Warsh faces intense scrutiny as he prepares for next week's policy meeting, with some calling on him to 'put up or shut up' and raise interest rates.