US Fed chairman Kevin Warsh says inflation is elevated and 'concerning' at Jackson Hole

US Fed Chairman Kevin Warsh described inflation as elevated and concerning at Jackson Hole, hinting that interest rate hikes could be on the horizon. The Fed's preferred inflation gauge came in at 3.7 percent, well above the two-percent target for over five years. While Warsh noted economic strength in capex, corporate earnings, and consumer spending, a quarter of voting members at the July meeting dissented in favor of an immediate rate hike, reinforcing the hawkish signal for emerging markets including India.