However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn

The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”.

Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut.

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© Photograph: Natalie Behring/Getty Images

© Photograph: Natalie Behring/Getty Images

© Photograph: Natalie Behring/Getty Images

The 2026 revisions by the Bureau of Labor Statistics represent a downward adjustment of just 0.1 percent of the total work force.

© Justin Sullivan/Getty Images

Edward Yardeni, an upbeat strategist with an excellent track record in assessing the stock market, explains why he thinks the good times will continue for years.

© Mengxin Li

In a high-profile speech, Kevin M. Warsh said the Federal Reserve was chiefly responsible for taming inflation. If price increases do not return to the central bank’s target quickly, “we have work to do,” he said.

© Natalie Behring/Getty Images

Unpopular new policy comes as midterms loom and control of Congress could be decided by several Michigan races

Every day $1bn worth of goods crosses the river dividing Detroit, Michigan, and Windsor, Ontario, two largely blue-collar US and Canadian cities that have come to act as one in the creation of North America’s auto industry.

News this week of Donald Trump’s escalating trade spat with Canada has everyone worried. Political and economic leaders and observers labeled the move an act of “hubris” , blamed Trump’s “ego”, and called the escalation “insanity”.

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© Photograph: Jeff Kowalsky/AFP/Getty Images

© Photograph: Jeff Kowalsky/AFP/Getty Images

© Photograph: Jeff Kowalsky/AFP/Getty Images

Unpopular new policy comes as midterms loom and control of Congress could be decided by several Michigan races

Every day $1bn worth of goods crosses the river dividing Detroit, Michigan, and Windsor, Ontario, two largely blue-collar US and Canadian cities that have come to act as one in the creation of North America’s auto industry.

News this week of Donald Trump’s escalating trade spat with Canada has everyone worried. Political and economic leaders and observers labeled the move an act of “hubris” , blamed Trump’s “ego”, and called the escalation “insanity”.

Continue reading...

© Photograph: Jeff Kowalsky/AFP/Getty Images

© Photograph: Jeff Kowalsky/AFP/Getty Images

© Photograph: Jeff Kowalsky/AFP/Getty Images

Robin Wigglesworth of Financial Times explains everything you need to know about the Trump administration’s meddling with the bond market.

© The Ezra Klein Show

We are approaching a credibility crisis with Scott Bessent and Kevin Warsh leading our economy.

© Nathan Howard/Reuters

The relative indifference to the news that the U.S. government now owes $40 trillion demonstrates how drastically the politics of deficit spending has changed.

© Anna Moneymaker/Getty Images