Kevin Warsh should put inflation control ahead of Trump’s borrowing demands

Household prices for food, housing, energy, healthcare and other everyday necessities, and the economic policies blamed or credited for them. Central to how American voters judge an administration, and argued through inflation, wages, interest rates, tariffs and gasoline prices.

At Jackson Hole on 28 August, Chair Kevin Warsh called financial conditions unrestrictive and underlying inflation barely improved, while refusing forward guidance. Market odds of a September quarter-point rise moved from about one in three to sixty percent.