Trump’s new Fed chair walks fine line on inflation in key speech

JACKSON HOLE, Wyo. — President Donald Trump’s new Federal Reserve Chair said Friday that although measures of inflation are still elevated, it is not yet clear that the central bank must take urgent action to address rising prices. The speech at the Fed’s yearly retreat to Jackson Hole, Wyoming, had been eagerly anticipated after a rocky start to Warsh’s tenure. Market observers were concerned that Warsh had downplayed the risk of rising prices. There were also calls for an interest rate hike from economists, including some within the Fed. Trump has routinely called for lower rates that would spark the economy but risk even greater inflation.

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