The Inflation Elephant in the Room Federal Reserve Chairman Kevin Warsh has acknowledged what many have been whispering about: that interest rate hikes may be necessary to ease price pressures.
This shift in tone is a stark departure from his earlier remarks, and it's left us wondering if the Fed's patience with inflation will wear thin.
Warsh emphasized the importance of meeting the 2% target in his prepared address for the Jackson Hole economic symposium: "We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed.