MarketPR
Federal Reserve Chair Kevin Warsh said inflation risks "have come down" at a European Central Bank conference in Sintra, Portugal — but declined to say where rates go next, leaving the Fed's policy trajectory unresolved even as he offered measured acknowledgment that price pressures have eased.
Warsh argued that more work remains despite the improved inflation picture, giving markets nothing on timing.
Calibrated Language at the ECB's Sintra Conference The Fed chief's formulation was precise in what it conceded and deliberate in what it withheld.
Inflation risks have diminished, he told the ECB conference; that was explicit. But the same set of remarks carried an immediate caveat: the job is not finished.
Keep reading