Fed Chair Warsh Flags Inflation but Stays Mum on Rates

Fed Chair Kevin Warsh called inflation "concerning" in his August 28 Jackson Hole debut, noting the central bank has "work to do" — but declined to signal any rate move. PCE inflation, the Fed's preferred price gauge, sits at 3.7 percent, well above the 2 percent target. Same-day market reporting shows investor bets on a September hike rose after the speech.