Warsh on financial markets and the Federal Reserve

In the speech 'Financial markets and the Federal Reserve' given on 21 November Kevin Warsh of the Federal Reserve said the U.S. economy is still at risk of higher inflation, although market signals point to a gradual receding of price gains.

"Inflation, though down somewhat from its level earlier this year, remains uncomfortably elevated," Warsh said in comments prepared for delivery at the New York Stock Exchange.

"Financial market prices imply that inflation will continue its gradual but

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