Fed chair says delivering ‘stable prices’ is central bank’s job as inflation persists

However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”. Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut. The Fed chair painted a rosy view of the economy that contrasts with recent data. He said the economy “appears to have strengthened” given how it has held up to shocks. “On that score, both Main Street and Wall Street have been resilient,” Warsh said at the Fed’s annual symposium in Jackson Hole, Wyoming, on Friday. The Jackson Hole symposium has typically served as a platform for Fed chairs to offer clarity on the central bank’s general direction. For example, former Fed chair Jerome