Kevin Warsh acknowledged that inflation has made little progress toward the Federal Reserve’s 2% target since he assumed the helm of the central bank in May. But he said, “we’re working on it.” “Quashing inflation is not about some fixed individual date on a calendar,

Policymakers have long pointed to the fact that long-term inflation expectations have remained fairly stable to justify more stable interest rates this year—even as price growth has risen. Warsh took that tact in Wednesday's press conference.

A stronger-than-expected GDP reading could reinforce concerns that underlying price pressures remain sticky while raising expectations for near-term Fed rate hikes. Read more here.

The Bank of Canada raised its target for the overnight rate by 25 basis points to 2.5% on Wednesday, citing higher and more persistent inflation driven by elevated energy prices. The Bank Rate now stands at 2.

Federal Reserve Chairman Kevin Warsh takes questions from reporters after the FOMC votes to leave rates unchanged.

Warsh says the best way to keep the economic progress chugging along is to return inflation to the Fed's 2% target. Barron's Nicole Goodkind asked Warsh on Wednesday how he plans to fulfill the mandate that he's previously mentioned,

A fixed income stream quietly loses ground every time prices climb, but three companies have built the exact mechanisms to fight back and keep your paycheck growing year after year.

Hotter September inflation, rising oil prices and a 10-year Treasury yield above 5% are complicating the Fed’s outlook.