Fed's Warsh vows to 'do my job' if challenged by Trump

New Federal Reserve Chair Kevin Warsh told lawmakers he would continue doing his job independently if challenged by President Trump, pledging to depoliticize policy inside the central bank. Warsh reiterated that his priority is bringing inflation back to the 2 percent target, signaling no imminent rate cuts and resisting Trump's calls for lower borrowing costs. US consumer inflation slowed more than expected to 3.5 percent year-on-year in June, prompting traders to sharply lower rate-hike expectations for the July 28-29 meeting from 42 percent to 12 percent and for the September meeting from 75 percent to 53 percent.