Shea Levin — text status

Federal Reserve Chair Kevin Warsh signaled Friday that interest rate hikes may be needed in the coming months, warning that inflation remains too high despite some recent cooling. Warsh said recent inflation data has not convinced him that underlying trends have meaningfully improved, adding that the Fed still has “work to do” if inflation is not moving toward its 2% target quickly enough. The Fed’s next meeting is scheduled for September 15-16, though Warsh did not signal that a rate hike will necessarily come at that meeting.