Fed: US inflation "worrying" - The possibility of interest rates remaining unchanged remains open
Federal Reserve Chairman Kevin Warsh said the level of inflation in the US is "disturbing," adding that it is "difficult" to characterize monetary policy as "tightening." The statement suggests that the Federal Reserve will continue to keep interest rates unchanged at its next meeting.
In his first speech at the annual meeting in Jackson Hole, Warsh said that “overall, I would hardly describe economic conditions as restrictive.” His statement was closely watched by investors, who had been eagerly awaiting his views after few public appearances since taking office in May.
In his speech, the Federal Reserve chairman stressed that fighting inflation is a priority for the bank “right now.” He described price increases as “disturbing,” with inflation remaining at 3.7% year-on-year in July, well above the 2% target that the Federal Reserve has set for more than five years without reaching.
At the same time, Warsh said he was “impressed with the overall performance” of the US economy, noting that it “seems to have strengthened.” Regarding the job market, he said that “our country is doing well.”
Kevin Warsh was appointed by President Donald Trump, who has openly expressed his desire to lower interest rates to stimulate the economy. Currently, interest rates are between 3.50% and 3.75%.
The next meeting of the US Federal Reserve is scheduled for mid-September. At the previous meeting, three of the twelve board members voted in favor of raising interest rates, but the Federal Reserve kept interest rates in the range of 3.50% to 3.75%.
It is worth noting that interest rates remain unchanged since December 2025.
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