Warsh warns inflation relief isn’t a win as Fed rolls out overhaul
TL;DR Summary
June CPI fell 0.4% to 3.5% year over year—the first monthly drop in six years—prompting traders to cut the odds of a July rate hike and signaling a hold with potential hikes later this year. Fed Chair Kevin Warsh said the inflation improvement isn’t ‘mission accomplished’ and unveiled five task forces to reshape Fed policy (communications, balance sheet, productivity, data, and inflation frameworks), while stressing independence from politics. Markets were mixed: major indices rose on the inflation news, energy prices climbed due to Middle East tensions, and IBM’s weak earnings weighed on the Dow.
- Latest improvement on inflation isn’t ‘mission accomplished,’ Fed Chairman Warsh says CNN
- Warsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people CNBC
- Warsh Tells Congress the Fed Has ‘No Tolerance’ for High Inflation WSJ
- Fed chief Warsh vows to 'do my job' if challenged by Trump Reuters
- Warsh Says Fed Has ‘No Tolerance’ for Elevated Inflation Bloomberg.com
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