US Inflation Remains Above Fed Target for 65th Consecutive Month

Kevin Warsh faces mounting pressure to address persistent US inflation, which has exceeded the Federal Reserve's 2% target for 65 straight months. Data released on Wednesday shows the core PCE price index rose 3.3% year-over-year in July, with a monthly increase of 0.2%. These figures have fueled market speculation regarding a potential interest rate hike by the Federal Reserve as early as next month.