Kevin Warsh: “We're going to deliver on it.”

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

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

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

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.