Warsh Calls for Change in Monetary Policy and Affirms Federal Reserve's Commitment to Reducing Inflation
The head of the U.S. Federal Reserve, Kevin Warsh, affirmed the bank's commitment to bringing inflation back to the targeted 2% goal, urging a change in monetary policy approach to contain the high inflation that has persisted for years. He emphasized the need to comprehensively review the bank’s practices to strengthen economic stability, while maintaining the employment target and increasing transparency regarding any future policy changes. He also pointed out that inflation slowed to 3.5% in June, with a continued focus on achieving the target and not relying solely on monthly data for decision-making.
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