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Story summary
- Federal Reserve (Fed) Chair Kevin Warsh testified that core CPI fell to 3.5% year-over-year after inflation cooled.
- Kevin Warsh outlined a plan to meet inflation goals, accept misses, and adjust tools, creating task forces that pair advisers with two Fed staff each.
- Fed governors Lisa Cook, John Williams and Christopher Waller warned they will act without disinflation.
- Fed President Lorie Logan called for higher rates at the Sept. 15-16 meeting.
