US Federal Reserve Chairman Kevin Warsh said he is fully committed to delivering price stability amid high inflation stoked by the escalating Iran war. Not giving any forward outlook or deeper insight into the FOMC policy, he said he had full confidence in the board despite the dissents to deliver the remit of reining in inflation.
Reiterating that the committee was committed to delivering the 2% target, Warsh noted that there was perhaps a misimpression among market participants and households and businesses that despite setting the inflation target at 2%, the Fed was more tolerable to higher inflation target, in what is known in economics as revealed preference. But the Board, during its meeting in the last two days, reiterated its commitment to the 2% target, he said.
