Warsh Says Fed Must Act if Inflation Stays High

Federal Reserve Chair Kevin Warsh said the central bank would take action if inflation does not move toward its 2% target, and described the US economy as strong. Kevin Gordon, head of macro research and strategy at Schwab Center, and Ann Miletti, head of equity investments at Allsprings Global Investments, said Warsh's remarks clarified the Fed's approach. Bloomberg reported that upcoming inflation data will likely determine whether policymakers raise rates in September.

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