The policymaker said he's concerned about "broader price pressures taking hold" as inflation has prevailed above the Fed's 2% target

Financial markets are betting the Fed will raise its benchmark overnight interest rate, ⁠currently set in the 3.50%-3.75% range, by a quarter of a percentage point at its meeting this month. Many Fed officials have signaled an openness to raising rates, citing inflation readings ​that remain persistently above the 2% target.

Federal Reserve governor Michael Barr said Tuesday that if inflation doesn't come down adequately, the central bank should raise interest rates.

Federal Reserve Chair Kevin Warsh said measures of inflation are still elevated, but it is not yet clear that the Fed must take action to address rising prices.

Fed Governor Michael Barr said the central bank should act decisively to raise interest rates if inflation appears not to be moderating sufficiently. Barr said at a Washington, D.C. event that if data trends give him confidence that inflation is moderating on a path to the Fed's 2% target,

By Lewis Krauskopf, Saqib Iqbal Ahmed and Laura Matthews NEW YORK, Aug 28 (Reuters) - Investors were heartened on Friday by new Federal Reserve Chair Kevin Warsh's stated resolve to tame high inflation,

The Fed locked in a 2% inflation promise, and now some economists want to quietly move the goalposts. Whether it accepts that shift or fights for the original target will reprice your mortgage, your bonds,