Fed's Warsh: Committed to both inflation and employment mandates
SPY•Warsh says Fed is committed to both mandates
July 14 (Reuters) - Federal Reserve Chairman Kevin Warsh on Tuesday said he is just as committed to the Fed's employment mandate as he is to the inflation mandate that he has repeatedly emphasized since taking over the U.S. central bank.
"We have no disfavored part of the job that you gave us," Warsh told members of the House Financial Services Committee. "Price stability and maximum employment are not an either-or proposition. I'm committed to both of them."
Asked later if he would agree to take targeted measures to address the disparities between Black and white unemployment rates and opportunities, Warsh said, "The US can ill afford to leave any individuals behind. The economic opportunity, which is essential for America's growth trajectory over the next five and 10 years, means that every American needs to have opportunities to be productive."
