Fed Chairman Warsh: 'Inflation's a choice'

As the chairman said at the outset, inflation's a choice. The members of our committee have no tolerance for persistently elevated inflation, and we share a resolute commitment to ensure price stability. This was the focus of our June meeting at which we decided to hold the target range in the Fed funds rate at 3 and a half to three and 3/4%.Now, naturally, our work at the Fed demands a proper reading on economic conditions. As you see in our report, economic activity grew at a solid pace, showing remarkabl ...