Fed's Kevin Warsh: FOMC believes labor markets are stable

Summary

Federal Reserve Chairman Kevin Warsh answers questions after the FOMC left rates unchanged. He emphasizes that the Fed's credibility comes from delivering on its promises across all functions, including price stability. He characterizes the committee's view that labor markets are stable, with some seeing improvement, and stresses that trends over 3-6 months matter more than any single data point.

• Chairman Warsh highlights Fed credibility derived from delivering on monetary policy, supervision, and regulation promises
• Price stability objective will be achieved, putting recent inflation hardship in the rear-view mirror
• FOMC views the labor market as stable, with some members seeing it trending better
• Jobs data over 3-6 months is improving, with trends more important than individual releases
• The FOMC decided to leave interest rates unchanged (per the description)