[Federal Reserve Chairman Kevin Warsh: Inflation Remains Too High, Current Priority is Price Stability] Odaily Planet Daily News: Bitcoin News posted on the X platform that Federal Reserve Chairman Kevin Warsh, in his first Jackson Hole speech, stated that the U.S. economy has strengthened and remains resilient, but the Fed still needs to address inflation issues. Warsh noted that the labor market is consistent with full employment, with an unemployment rate of 4.1% and initial jobless claims near their lowest levels in decades. Over the past year, the personal consumption expenditures (PCE) price index inflation rate was 3.7%, and the annualized inflation rate over the past six months was 4.1%, both significantly above the Fed's 2% target. Within the PCE price index basket, 54% of items rose by more than 3% over the past year, indicating that inflation remains widespread. Warsh stated that the recent better-than-expected inflation data has not convinced him that there has been substantial improvement in the underlying inflation trend. Credit spreads remain low, lending standards are relatively loose, and the credit market shows almost no signs of policy tightening. He remarked, "I find it difficult to describe overall financial conditions as restrictive." Warsh emphasized that the Fed's current primary focus should be on price stability and reiterated that the 2% inflation rate is a "firm and fixed target." He also stated that the Fed's forward guidance is "no longer timely," and the market should no longer rely primarily on the Fed to identify the next trade. Warsh noted that the criteria for initiating easing are: "We must be confident that underlying inflation is moving clearly and sufficiently quickly toward the target level. Otherwise, we still have work to do." At the end of his speech, he concluded, "I stand here today to uphold a discipline, not to make a decision.