Fed Chair Kevin Warsh says central bank has ‘no tolerance’ for elevated inflation
Federal Reserve Chair Kevin Warsh on Tuesday told House lawmakers that the central bank's policymakers have "no tolerance for persistently elevated inflation" in his first testimony as Fed chief.Warsh said in his prepared testimony for the House Financial Services Committee that concerns about inflation influenced the Fed's decision to hold the benchmark federal funds rate steady at a range of 3.5% to 3.75% at the Fed's June meeting."The Fed's number one objective […]