U.S. Markets Sell Off After Fed’s Warsh Says Inflation Is Still ‘Too High’

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U.S. Federal Reserve Chairman Kevin Warsh stated on the 16th (local time) that "inflation continues to remain at high levels." This appears to emphasize his commitment to price stability. At a press conference held following the Federal Open Market Committee (FOMC) meeting, Chairman Warsh said, "Today's policy measures will contribute to bringing the inflation rate back to the Committee's (Fed's) target of 2% in a timely manner."

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The dollar recorded its best day in three months with the prospect that the US Federal Reserve (Fed) will continue to raise interest rates, after President Kevin Warsh issued a strong message about inflation.

L'Unione Sarda.it

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President Kevin Warsh: "We must guarantee citizens price stability"

Habertürk

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Federal Reserve Chairman Kevin Warsh stated that inflation has been too high for too long, and that today's interest rate hike decision is the right step toward achieving price stability.

Haberler

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"I would find it difficult to describe the overall financial conditions as restrictive. This view is largely shared by the Committee. Therefore, we have somewhat reduced our supportive stance." "My assessment a few weeks ago was that inflation trends during the summer months did not meet the desired criteria. Since then, I have seen very little data that would require me to change that view, so I maintain the same opinion."