Kevin Warsh says inflation is ‘concerning’ — is the Fed preparing to raise interest rates?

Federal Reserve Chair Kevin Warsh has delivered his clearest warning yet that stubbornly high inflation could force the U.S. central bank to take further action on interest rates.

Speaking at the Federal Reserve’s closely watched Jackson Hole symposium on Friday, Warsh said the inflation outlook remained a source of concern and suggested the Fed would have to act if underlying price pressures failed to move convincingly toward its 2% target.