Federal Reserve Chairman Kevin Warsh made his first appearance on the global stage, speaking at a panel hosted by the European Central Bank in Sintra, Portugal. Warsh argued that central banks should stop trying to predict the economy, a view shared by other top central bankers.
Economic Uncertainty
Warsh’s comments come as the US economy and Wall Street try to move past the economic disruption of the conflict in the Middle East. The Iran war has pushed US inflation to a four-year high, raising the chances that the Fed may need to cool the economy by hiking interest rates for the first time since 2023.
Warsh emphasized the importance of getting inflation back down to the Fed’s 2% target. He also announced five task forces to review factors affecting the Fed’s monetary policymaking, including productivity.
Original reporting: KRDO (Colorado Springs metro) — read the source article.
