Why Fed’s Kevin Warsh is paying close attention to trimmed PCE


Following Kevin Warsh’s first FOMC meeting as the new head of the Federal Reserve, former Fed Bank of Cleveland president Loretta Mester explains why Warsh is choosing to pay so much attention to the trimmed mean of the Personal Consumption Expenditures (PCE) index for inflation.

Fed officials voted unanimously on Wednesday to hold interest rates where they are.



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