Federal Reserve Chairman Kevin Warsh stated on Wednesday that the U.S. central bank has no higher ‘soft target’ for inflation and is determined to meet its longstanding 2% goal despite leaving rates unchanged amid elevated inflation readings.
Warsh emphasized that some households, businesses, and market professionals may have mistakenly believed the Fed’s implicit inflation target was above 2% due to five years of high inflation. However, he reiterated that there is no ‘soft inflation target’ and that the committee is committed to achieving the 2% goal.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
