Fed Chair Warsh vows to fight inflation even as new CPI report shows 3.5% rise

Federal Reserve Chair Kevin Warsh pledged to reduce inflation to the Fed's 2% target following a 3.5% annual rise in the Consumer Price Index, driven by routine costs like food and fuel despite falling gas prices. Warsh emphasized data-driven monetary policy amid geopolitical tensions in the Strait of Hormuz and political scrutiny over the Fed's independence.