Fed chair Warsh says inflation is too high
Digest more
New York Fed President John Williams said he expects inflation readings to edge down in the coming quarters, although substantial risks remain.
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Trump has sought
Trump did not inherit inflation "at record levels." Under Biden, year-over-year inflation peaked at about 9%, which was the highest in around 40 years, not of all time. By Biden’s last month in office, year-over-year inflation was about 2.9%. The Federal Reserve aims to keep inflation about 2% year-over-year.
The latest inflation report was released Thursday morning and, with it, the revelation that inflation increased in August. Now at 2.9%, the inflation rate increased from July's 2.7% and is now almost a full percentage point higher than the Federal Reserve ...
Inflation inched up more than expected last month, according to Commerce Department data released Friday morning, as Wall Street watches inflation data with bated breath amid the standoff between the White House and the Federal Reserve over the unknown ...
US inflation unexpectedly cooled in November, according to a delayed report, although economists warned against reading too much into the numbers because of gaps in the data. The Consumer Price Index rose 2.7% in November over the past 12 months, down from ...
"The current stance of monetary policy is well positioned" to restore inflation to the Federal Reserve's longer-run goal of 2% on a sustained basis, New York Fed President John Williams said Thursday.
