Warsh: FOMC not confident inflation is moving toward target, summer data did not show inflation improvement

BlockBeats news, September 17: Federal Reserve Chairman Warsh stated that the FOMC is currently not confident that inflation is moving toward the 2% target level, and said inflation is too high and has persisted for too long.

Warsh pointed out that economic data released over the summer did not show improvement in the inflation situation, and there are still too many categories of goods whose prices have risen by more than 3% over the past 6 and 12 months. He stated that at the July meeting, the FOMC unanimously agreed that inflation remains too high and expressed willingness to take action.

At the same time, Warsh said the U.S. labor market remains an important signal of economic strength, with the unemployment rate staying low, jobs and working hours both increasing, credit flows remaining strong, and the overall economy showing resilience.