Warsh says inflation is still too high but gives no hint on July rate decision

Federal Reserve Chair Kevin Warsh said on Wednesday that he would not signal what the central bank might do at its meeting later this month, even as he said inflation remains too high. Speaking at the ECB Forum on Central Banking in Sintra, Portugal, Warsh said the Fed’s main job is price stability and added that policymakers are still seeing prices that are elevated. He also said the central bank is preparing to use new technologies and data tools to improve how it tracks the real economy and makes policy decisions. Warsh, who took office in May, said staff for his five Fed task forces will be announced next week. The panel also included ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem. The Fed has held rates steady this year as officials continue weighing inflation against broader economic conditions.