US Federal Reserve chair Kevin Warsh says he will stick by 2% inflation target, vows to bring in real-time economic data for making interest rate decisions
Federal Reserve Chairman Kevin Warsh on Wednesday said he will firmly go by the U.S. central bank's 2% inflation target and will "disappoint" anyone who expects monetary policy easing despite President Donald Trump's repeated demands for rate cuts. "If people thought this central bank was going to be comfortable with an inflation objective above 2%, they would be disappointed," Warsh told a European Central Bank panel in Sintra, Portugal, adding, "We have been an independent central bank for a long time. We are going to be an independent central bank at this moment and you will see no changes on that." He further restated that he would give little hints on monetary policy projections. Warsh also promised to bring in real-time economic data that will help the US central bank make better policies, replacing what he termed problematic government reports."My aspiration is that nine to 12 months from now we're going to be using new technologi...