US Federal Reserve chair Kevin Warsh says he will stick by 2% inflation target, vows to bring in real-time economic data for making interest rate decisions

US Federal Reserve Chair Kevin Warsh reaffirmed the central bank's commitment to the 2 percent inflation target and its independence, pushing back against expectations of a higher tolerance for inflation. He outlined plans to introduce real-time economic data tools within 9 to 12 months to replace what he termed problematic government data sources. Warsh also said he would start naming members of five new task forces from next week, one focused on improving data-gathering methods.