Fed Chair Nominee Kevin Warsh: I Believe Price Stability Should Be a Change in Prices Such That No One’s Talking About It

EXCERPT:

WARSH: “My preferred definition of stable prices is a little different than most academics. I believe that price stability should be a change in prices such that no one's talking about it. That's an old-fashioned definition, but I think it's still valid. The sooner that we can reform the institution with my colleagues if confirmed, the sooner we can ensure price stability and we can have a new set of leaders atop the institution with high, credible, ethical standards to return the Fed to what it should be.”