Headlines will update live:
- We will deliver price stability
- We have the tools to deliver that
- The Fed won’t pass the buck
- We want economic growth to be more broad based
- I’ve demonstated a commitment to indepence in my first weeks at the Fed
- The purpose of changing communication is to get monetary policy right
- The economy is solid, financial markets are strong
- The housing market is uneven
- The labor market has been remarkably resilient
- We have some work to do on the inflation front
“There are a lot of things that are happening that are out of our control…. But inflation is a choice…. This isn’t a time for us to pass the buck and blame others,” he said.
Warsh also gummed up the closing of his testimony in a light moment. It was written “We are starting a new chapter at the Federal Reserve at a consequential time for our nation.”He said “We are starting a new chapter Mr. Chairman of the Federal Reserve, at a consequential time for our nation.”It sounded like he was referring to himself as Mr. but he looked away from the paper and bungled it.
This article was written by Adam Button at investinglive.com.
