Nick Timiraos(@NickTimiraos):Warsh offered a narrow description of what Wednesday's rate increase was meant to do. "We removed a dose of accommodation so that financial and credit conditions would be more consistent with our ultimate objectives," he said. That phrasing ordinarily would suggest officials view policy as still easy even after Wednesday's move. Warsh dismissed that interpretation when asked where rates now stand relative to an unobservable setting that economists think neither spurs nor slows growth. He said the academic concept didn’t translate well into the “decisions that we make today.”

2026.09.16 19:13

Warsh offered a narrow description of what Wednesday's rate increase was meant to do. "We removed a dose of accommodation so that financial and credit conditions would be more consistent with our ultimate objectives," he said. That phrasing ordinarily would suggest officials view policy as still easy even after Wednesday's move. Warsh dismissed that interpretation when asked where rates now stand relative to an unobservable setting that economists think neither spurs nor slows growth. He said the academic concept didn’t translate well into the “decisions that we make today.”

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