Kevin Warsh: “As with other legacies of crises past, I believe that the practice has overstayed its welcome,”

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.

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