Kevin Warsh: “A quieter Fed, more purposeful in its communications, is better able to meet its objectives.”

There are always areas of concern in the labor market—for example, among recent graduates.

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.

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

Part of the independence of the Federal Reserve is we stay in our lane.