Kevin Warsh: “The Fed’s job to deliver stable prices”

But what we can do and will do is ensure that any change in relative prices don’t broaden out, don’t have second and third order effects on the economy.

In general, though, people who want to work, by and large, are holding or finding jobs.

Inflation data are more concerning than trends on the job market.

Short-term interest rates are the predominant tool the Fed can use to lower inflation.