Warsh Vows to Hit 2% Inflation Target Despite Ongoing Price Growth

Federal Reserve Chairman Kevin Warsh emphasized that inflation remains a pressing concern, and policymakers must be confident it's slowing before they can declare victory. In his first speech since becoming chairman in May, Warsh reiterated the Fed's commitment to returning inflation to its 2% target.

Warsh spoke at the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium on August 27, where he addressed concerns about the pace of inflation. He stated that policymakers must be 'confident' that inflation is slowing, otherwise they have 'work to do.'

The Fed chairman's comments come as markets closely watch inflation data for signs of a slowdown. Warsh has been vocal about the need for sustained price growth before the central bank can adjust its monetary policy.