Warsh Warns of Elevated Inflation Despite Modest Progress

At the annual Jackson Hole Economic Policy Symposium, U.S. Federal Reserve Chairman Kevin Warsh emphasized that inflation remains above its 2-percent target.

Warsh highlighted the importance of focusing on prices, stating, 'On the price stability side of our mandate, the numbers are more concerning.'

The PCE price index increased by a seasonally adjusted 0.2 percent for the month, slightly exceeding expectations, while core PCE inflation remained at 3.3 percent year-over-year.

Warsh acknowledged that progress over the past two years has been modest, and expressed concern about the underlying trends in inflation.