Former Fed Official Loretta Mester Says Warsh's Speech was Hawkish
Dow Jones02:27
1427 ET - Chairman Kevin Warsh's speech today at Jackson Hole was hawkish as he described inflation pressures that went beyond temporary price shocks, says Loretta Mester, Former Cleveland Fed President and Adjunct Full Professor of Finance at the Wharton School, in an interview with WSJ. "He pointed to some data that showed...it's not just about tariffs or the oil prices." At his speech, Warsh said that while this summer's PCE and CPI readings were better than expected, they do not show signals that underlying trends have meaningfully improved. "I thought it was quite hawkish in terms of his views," Mester says.
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