Warsh's Inflation Talk Faces Test as Fed Eyes Rate Hike

Fed Chairman Kevin Warsh is facing pressure to follow up his tough talk on inflation with action, specifically an interest-rate hike. In June, after his first policy meeting as Fed chief, Warsh stated that 'We've got some work to do on the price-stability front' after inflation had run above the 2% target for years.

The US central bank is set to make a decision on interest rates in the coming days. With inflation still high, there are expectations that the Fed will raise rates to combat rising prices.