Fed Chairman Warsh: Not going to fix inflation with a magic wand

Federal Reserve Chairman Kevin Warsh addresses impatience with above-target inflation, emphasizing that the FOMC has been in place only weeks and that markets have tightened financial conditions on their own, giving the Fed some comfort. He states the Fed will not be dictated by market pricing but treats it as a useful, unfiltered source of information. - Chairman Warsh pushes back against expectations of a quick inflation fix, noting his FOMC is only 8.5 weeks into its term. - He says broad market prices are not sounding the all-clear but have tightened financial conditions independently. - The tightening in financial conditions gives the Fed some comfort that it can deliver on its mandate. - Warsh stresses that the Fed will not be constrained by market pricing but sees markets as a valuable, unfiltered information source. - The discussion ends with no explicit trade calls or asset preferences, only policy commentary.