Federal Reserve Chairman Kevin Warsh, in comments Wednesday at the ECB Forum on Central Banking, declined to give any signal as to what the central bank may do at its meeting later this month, but did note that inflation was too elevated.
“We’re all in the price stability business, that might not be our only business, but if there was a common thing I heard over the last couple of days, it was open-mindedness on these questions of AI, open-mindedness on productivity, but we’ve all looked around, and we’ve seen that prices are too high,” Warsh told CNBC’s Sara Eisen during the panel in Sintra, Portugal.
Along with Warsh, the group also featured European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem.
Aside from his post-meeting news conference two weeks ago, this is the first time Warsh has spoken publicly since being confirmed in May. The Fed has been on hold this year with interest rates as policymakers weigh the persistence of inflation against other economic factors.
For its part, the ECB recent enacted a quarter percentage point interest rate hike to head off inflation. The BOE and BOC have been on hold this year as well after cutting in 2025.
