Kevin Warsh: “With this oath, I've accepted a high and solemn responsibility.”

The plain fact is that inflation is too high, and has been for too long.

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

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.

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