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

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

Too many categories are still posting increases above 3 percent on both a six and 12-month basis.

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.

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