🤔 Fed Chair signals rate hikes might be needed
Federal Reserve Chair Kevin Warsh suggested that interest rates might need to be raised to tackle persistent inflation. This statement was made by Warsh during his first major speech at the Fed’s annual conference in Jackson Hole, Wyoming. Although recent US reports showed some inflation cooling, Warsh noted the underlying trends haven't meaningfully improved. He stressed that the Fed must be confident that underlying inflation is moving toward its target at a sufficient speed. Moving forward, the Fed's primary focus remains firmly on achieving price stability. 📈