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00:02Federal Reserve Chairman Kevin Warsh said Friday that inflation remains elevated
00:07and suggested interest rates could need to rise if price pressures fail to ease further,
00:11according to CNBC. Speaking at the Fed's Jackson Hole Symposium, Warsh said recent
00:17inflation readings have not shown meaningful improvement and stressed the Fed must ensure
00:21inflation is moving toward its 2% target. Traders raised the probability of a September rate hike
00:26to 55.7%, according to CME Group's FedWatch tool. The policy-sensitive two-year Treasury yield
00:34climbed nearly eight basis points to 4.31%, its highest since late July. Warsh also said the
00:40economy appears to have strengthened and called for a quieter Fed that relies less on forward guidance.
00:46For all things money, visit Benzinga.com.
