Fed Chair Warsh: One-Time Price Changes Not Necessarily Inflationary

Federal Reserve Chair Kevin Warsh told the US Senate Committee on Banking, Housing, and Urban Affairs on Wednesday that a one-time adjustment in prices should not be conflated with persistent inflation.

Testifying on the Semiannual Monetary Policy Report, Warsh said recent inflation figures provide an imperfect measure of underlying inflation, suggesting the central bank is looking through transitory moves in assessing the trajectory of price growth.