Fed chair Warsh says price stability is key but shies away from signals about rates
Warsh said the Fed will not prejudge upcoming meetings as officials weigh another rate increase and inflation stays elevated.
- On Friday, Federal Reserve Chairman Kevin Warsh stated in Bangkok that he will not prejudge interest rate decisions for the central bank's upcoming October and December meetings.
- Speaking with International Monetary Fund Managing Director Kristalina Georgieva at the IMF-World Bank Annual Meetings, Warsh observed a "synchronous tightening in monetary policy in most places around the world."
- Stubbornly elevated U.S. inflation hit 3.7% in September, driving the Federal Reserve's recent rate hike to roughly 3.9%, with officials indicating further increases are likely this year.
- While identifying artificial intelligence as a "huge benefit" to the global economy, Warsh acknowledged that the investment surge is contributing to higher inflation pressures.
- To address data lags in assessing inflation trends, Warsh noted that Fed economists may soon utilize new analytical tools to distill information, positioning artificial intelligence as a transformative resource.
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Kevin Warsh says US investment surge supports growth, sees AI boosting supply over medium term
U.S. Federal Reserve Chief Kevin Warch avoided giving signals about interest hikes in October, despite inflationary data that exceeded expectations, amid market anticipation of the Bank's decision after the September increase and growing price pressures in the economy.
Fed Chair Warsh Prioritizes Price Stability but Gives No Signal on Interest Rates
Internewscast Internewscast BANGKOK – Federal Reserve Chairman Kevin Warsh said Friday that he would… This Post: Fed Chair Warsh Prioritizes Price Stability but Gives No Signal on Interest Rates first appeared on Internewscast
Federal Reserve Chairman Kevin Warsh did not dispel market expectations that the central bank would keep interest rates unchanged at its meeting in late October, during a speech in Bangkok. The statement reduced market bets on further rate hikes, while stock markets started to rise, Bloomberg reports.
Associated Press News
Fed chair Warsh says price stability is key but shies away from signals about rates
U.S. Federal Reserve Chairman Kevin Warsh says he won't prejudge what the U.S. central bank will do about interest rates at its upcoming meetings.
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