Asked Why He’s Not Raising Rates to Stem Inflation, Kevin Harsh Can’t Give Clear Answer

EXCERPT:

EISEN: “Speaking of not liking forward guidance, which is going to make this job so much harder for me, this panel, Chairman Warsh, we have inflation in the U.S. that is higher than Europe's and farther away from our target, so why are we not raising interest rates?”
WARSH: “I was hoping you would ask me about forward guidance.”
EISEN: “We'll get there. Because you have so much to say there too, right?”
WARSH: "So, we have found common cause. It's what President Lagarde said, I liked her when we met 20 years ago when she was finance minister. After that answer, I love her. Reform does not stop at the water's edge. What I found most exhilarating about the last two days here is the kind of discussions that we've begun at the Federal Reserve as a lot of people at this conference open-minded, keen to think anew about the conduct of monetary policy and President Lagarde's answer on forward guidance, I couldn't have said it better myself. We're going to chart a new course so that we can make better decisions and do the right thing.”