Kevin Warsh: “Progress on inflation over the past several years has been modest”

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.

In general, though, people who want to work, by and large, are holding or finding jobs.

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