Warsh Suggests Rate Hikes Needed Amid Stubborn US Inflation

Federal Reserve Chair Kevin Warsh has indicated that interest rate hikes may be necessary to combat elevated US inflation. At the annual Jackson Hole Economic Policy Symposium in Wyoming, Warsh stated that 'inflation is still too high' and suggested the central bank might raise rates in the coming months.

The comments from Warsh, a known hawk on monetary policy, are a clearer signal than previously seen regarding his economic outlook. The Fed has been keeping a close eye on inflation, which has remained stubbornly elevated despite recent economic growth.