Fed Chair Warsh signals elevated inflation, no forward guidance, and higher nominal/real yields.
Macro & Markets ·
Fed Chair Warsh indicated that inflation remains elevated relative to the 2% target while the US economy demonstrates impressive resilience, according to his latest statement. The policy announcement avoided forward guidance and noted that both nominal and real yields have moved materially higher since the previous meeting. The Fed reiterated that 2% is the sole inflation target, with no softer alternative in view.