Warsh won't preview rate decisions

Federal Reserve Chairman Kevin Warsh said Friday he will not prejudge what the central bank will do about interest rates at its upcoming October and December meetings.

“I don't prejudge meetings. I don't believe in saying now what I might do at the meetings that we have in the balance of this year.”

September rate hike ended three-year pause

The Fed increased its key interest rate by a quarter-point to about three point nine percent in September, its first increase in three years.

Inflation remains stubbornly elevated

Stubbornly elevated U.S. inflation will likely lead the Fed to hike rates again in coming months to slow spending and help cool price pressures.

Warsh speaks at IMF meeting in Bangkok

Warsh offered no fresh signals during a fireside chat with International Monetary Fund Managing Director Kristalina Georgieva at a meeting of financial leaders in Bangkok.

Fed committed to price stability

Warsh said the Federal Reserve made clear it would deliver price stability and removed a dose of accommodation about a month ago.

“At the Federal Reserve, we made very clear that we would deliver price stability, and we removed a dose of accommodation about a month ago.”

Trump opposed September rate hike

The Fed's September rate hike defied U.S. President Donald Trump's repeated calls for the Fed to cut rates. Trump criticized the Fed's rate-setting committee.

Trump still supports Warsh

President Donald Trump, who appointed Warsh earlier this year, still expressed support for him despite criticizing the Fed's rate-setting committee.

Global price surge concerns leaders

The global surge in prices is a key concern of central bankers and financial leaders meeting in Bangkok to discuss economic conditions.

Fed officials expect another hike this year

According to minutes released from the most recent meeting, most Fed officials expect that another interest rate increase will likely be needed this year.

Rate hikes will raise borrowing costs

Another interest rate increase would raise borrowing costs for mortgages, car loans, and credit cards over time as the Fed continues tightening policy.