Walsh: Inflation is too high and has lasted too long; summer data shows no significant improvement.

Odaily Planet Daily reports that Federal Reserve Chairman Warsh emphasized in his opening remarks at a press conference that both he and other policymakers are dissatisfied with the current pace of inflation. He stated, "Our primary concern right now is the price stability aspect of our monetary policy mandate. The facts are simple: inflation is too high, and it's been going on for too long. This summer's inflation data hasn't shown me any meaningful improvement in the underlying trend." He pointed out that in recent CPI and PPI data, too many categories still show increases exceeding 3% over the past six and twelve months. The Fed Chairman stressed that the FOMC's goals are clear and crucial: to achieve full employment and price stability, and to foster a thriving U.S. economy, making it a global benchmark. (Jinshi)