Federal Reserve Chairman Kevin Warsh flagged that underlying inflation is not slowing during his speech at the Jackson Hole Economic Symposium.

Chairman Warsh downplayed the funds rate as the preferred tool to fight inflationary risks in favor of a smaller Fed balance sheet, and continued to criticize forward guidance

My comment-

rates to remain unchanged and FED now fighting inflation.

negative payrolls or retail sales won’t cause him to panic and start dropping rates.

He is also reducing QE to cut inflation….