Kevin Warsh: “My colleagues and I recognize that high inflation has been an undue burden on American households and businesses.”

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

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.

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