Fed Chair Warsh signals rate hikes may be needed with US inflation stubbornly elevated
Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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15-16 meeting as basically a coin flip, according to futures pricing tracked by CME FedWatch , up from about one-third before Warsh spoke. The U.S. stock market held steady after the speech, but expectations are building in the bond market for the Fed to hike interest rates.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
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Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he had sent previously about his economic outlook. Fed Chair Kevin Warsh, left, Bank of England Governor Andrew Bailey, middle, and Bank of Canada Governor Tiff Macklem arrive at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh arrives at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. 28, 2026, in Moran, Wyo. (AP Photo/Amber Baesler) Fed Chair Kevin Warsh, center, talks to Bank of England Governor Andrew Bailey, right, and Bank of Canada Governor Tiff Macklem at the annual Jackson Hole Economic Policy Symposium on Friday, Aug. Warsh did not imply that a rate hike is imminent, but he appeared to dismiss perceptions that inflation is no longer a threat.
