Trump lashes out at Fed
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NEW YORK, Sept 16 (Reuters) - Federal Reserve Chairman Kevin Warsh suggested on Wednesday that among the forces pushing up bond yields, a loss in confidence in the central bank's inflation fight mettle is not on that list.
Federal Reserve Chairman Kevin Warsh has said he thinks policymakers should do a lot less talking. He followed his own advice on Wednesday when he held the shortest press conference on record for a Fed chair speaking after a regularly-scheduled policy meeting.
All three major U.S. stock indexes closed lower for the seventh time in the past eight sessions after the Fed chairman made it clear inflation is still a problem.
Fed chief Warsh acknowledged that an interest-rate hike won't open the Strait of Hormuz or contain high oil prices, but he said the Fed can help prevent inflation from spreading beyond energy. "We can't affect any individual price,
The Federal Reserve's predominant focus will remain on controlling inflation, Fed Chairman Kevin Warsh said on Wednesday after the U.S. central bank raised rates. "So our predominant focus is on the price stability side of our mandate.
Fed Chairman Kevin Warsh demurred on whether Wednesday's rate increase was another test of the Fed's independence. "Part of the independence of the Federal Reserve is we stay in our lane," Warsh said.
Major stock indexes and Treasury yields barely reacted Wednesday after the Federal Reserve unanimously raised interest rates for the first time since 2023. The tech-heavy Nasdaq Composite and benchmark S&P 500 were up a respective 0.
The Fed opted to hike rates at the September meeting, the first in three years. Warsh said inflation rates are the Fed's top priority, despite trade and geopolitical shocks. The new chair is committed to independence and declined to comment on Trump.