Fed Chair Warsh says inflation is a choice, the Fed wants economic growth to be more broad based. Fed is committed to the inflation target and price stability.

Inflation/Growth:

• We have tools to deliver on inflation.
• Will revisit inflation frameworks to understand what causes inflation and what can be done.
• Not afraid of productivity-led growth.
• Two parts of the Fed mandates are not in conflict.
• Have some more work to do on the inflation front.

Jobs:

• Labour market appears to be in good balance.

Balance Sheet:

• Balance sheet is not merely about plumbing.
• Reiterates that balance sheet is part of monetary policy.
• Fed must stay clear of fiscal policy.
• Any change in balance sheet policy would be previewed, explained and broadly communicated in advance.

Task Force:

• Task forces will share their views first with the 19 policymakers.
• Task forces are in discovery mode, starting with a blank sheet of paper.

Independency:

• Are committed to conducting an independent monetary policy.
• Would continue with his job, if President Trump attempted to interfere.

Mortgages:

• Mortgage rates have been higher, in part, due to inflation is above the Fed's target.
• Containing inflation would be consistent with lower long-term treasury yields and more affordable mortgages.

Others:

• We do not want to be in the bail-out business, including crypto.
• Reforms will be forthcoming in everything at the Fed.
• Plan on getting rid of tax that is inflation.
• Being more circumspect in communications is a better way, at least for me.