Warsh Pairs 'No Tolerance' Pledge With Five Fed Reviews
The Fed held its rate at 3.50% to 3.75% and opened five task forces covering communications, balance sheet, data and inflation frameworks.
- Fed held its benchmark rate at 3.50% to 3.75%, unchanged since June's meeting.
- Warsh launched five task forces: communications, balance sheet, data sources, productivity, inflation frameworks.
- His exact words: Committee members have 'no tolerance for persistently elevated inflation.'
Why it matters: Launching five reviews of how the Fed talks about inflation is not itself a policy against it.
Federal Reserve Board — Testimony by Chairman Warsh on the Semiannual Monetary Policy Report to Congress ↗ · Jul 14, 20267/14/26 · Updated Jul 14 · ✓ Checked✓ Check