Inflation's Unwelcome Guest at the Fed's Table As the Federal Reserve gathered for its annual symposium in Jackson Hole, Wyoming, a sense of unease hung over the proceedings.
Kevin Warsh, the Fed's vice chairman, delivered a stark warning: unless inflation eases, the central bank will have "work to do.
" This phrase has become a refrain in recent months, but its implications are far from trivial. Warsh's focus on inflation marks a shift in tone for the Federal Reserve.