Fed chair Kevin Warsh says no 'magic wand' on inflation
US Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would restore price stability but warned there was no “magic wand” to bring inflation back to the Fed’s two percent target.
“We are on the job. We will deliver,” Warsh said. “But the suggestion that we’re going to be able to do it with our magic wands is one I want to disabuse you and everyone else of.”
The comment adds to the Fed chair’s same-day remarks that the United States was doing “pretty well” on full employment.
Update
The Fed chair was identified as Kevin Warsh.
Warsh said, “We are on the job. We will deliver,” while discussing the effort to return inflation to the Fed's two percent target.
Source note: AFP news report published on 29 July 2026 at 19:25:52 UTC.
Update
The US Federal Reserve chair said there was no “magic wand” to achieve the inflation target.
Source note: AFP news report published on 29 July 2026 at 19:14:04 UTC.
Update
Federal Reserve chair Kevin Warsh said the United States was doing considerably less well on prices than on full employment.
Warsh made the comments after the Fed decided to keep interest rates steady.
Warsh said elevated prices took up most of the Fed's discussion of monetary policy transmission mechanisms.
Source note: AFP news report published on 29 July 2026 at 19:11:18 UTC.
Source
AFP news report published on .