Federal Reserve Chair Kevin Warsh offered his most explicit assessment of the economy on Friday, warning that persistent inflation remains excessively high and suggesting that monetary policymakers may need to raise interest rates over the coming months to bring prices under control.
Delivering his first major address at the central bank's annual monetary conference in Jackson Hole, Wyoming, Warsh acknowledged that recent American economic figures show price growth has moderated somewhat, but "they do not tell me that underlying trends have meaningfully improved."
