Kevin Warsh: “We cannot affect any individual price, whether it be oil prices, whether it be foodstuffs at the grocery store”

At the moment of truth, there are either reasons or results.

Independence is a two-way street. We let people that do trade policy and fiscal policy stay in their lane, too.

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

The Fed will have 'work to do' if price pressures do not ease.