Fed Chief Promises Inflation End
Federal Reserve President Kevin Warsh said he will fight high inflation. He wants prices to return to the 2% target. He appeared before Congress to make his position clear.
Kevin Warsh is the new head of the Federal Reserve. He spoke to the House Financial Services Committee. He believes inflation will stop rising. He does not expect it to stay high for many years. He also said he would not let political pressure influence his decisions.
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Highlights
Warsh's Inflation Stance
Kevin Warsh said he will not accept high inflation in the US.
Fed Expects Inflation End
The Fed believes inflation will stop rising.
Warsh Resists Trump Pressure
Warsh said he will not be pressured by Donald Trump.
Commitment to Controlling Prices
Warsh is focused on controlling rising prices.
Inflation Above 2% Target
Inflation has been over 2% for five years.