The Fed Chair’s 2% Inflation Rhetoric Is Starting to Feel Empty

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Federal Reserve Chair Kevin Warsh kicked off his second post-decision press conference with a familiar refrain: Inflation has been running above the central bank’s 2% objective for too long, and he’s resolute about fixing it. “You’ve heard this before, but we will deliver price stability,” he said. Yet for the second straight meeting since assuming the job, he opted to do nothing about it. For Warsh, Wednesday’s decision to hold rates in a range of 3.5%-3.75% was a major missed opportunity.

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