Fed will have "work to do" if inflation doesn't fade, Warsh says in Jackson Hole speech

Federal Reserve Chairman Kevin Warsh reaffirmed the central bank's commitment to lowering consumer prices, acknowledging that inflation remains too high in a highly anticipated speech in Jackson Hole, Wyoming.During remarks at the Fed's annual conference, Warsh said that recent government data shows inflation has cooled, but "they do not tell me that underlying trends have meaningfully improved."While stopping short of saying the Fed could raise its benchmark interest rate, Warsh also signaled that policymakers are prepared to act if inflationary pressures don't subside. On Friday, CME Group's FedWatch tool showed a 55% likelihood that the Fed would raise rates at its Sept.

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