Fed Chair Warsh says inflation remains high, price stability is top priority

Kevin Warsh, chairman of the U.S. Federal Reserve, said at a press conference that inflation remains elevated and the Fed’s top priority is price stability. Warsh added that inflation pressure is still broad-based, with a significant share of the 199 detailed items in the personal consumption expenditures price index, the Fed’s preferred inflation gauge, still posting gains of more than 3%.