Fed Chair Warsh says today's inflation data does not say mission accomplished; does not think that after today's CPI report that everything is swell

it is one data point, do not want to overread or cherry pick data.  Doubling down on 2% inflation target. Fed will deliver 2% inflation. June CPI was soft relative to expectations. Not cherry picking. There is still plenty of work to do. Broader price stability objective is still in the back of his mind, will see if there are any further reforms to be had. Would prefer monetary policy that avoids boom and bust. Our job is to make sure price changes don't broaden into inflation. Commitment is to take sticky prices and unstick them. Asked how he will deliver price stability, says it is not a commitment they'll walk away from. Higher inflation is not acceptable. FDIC cap should be binding. Most of the Fed's job is to the left of the decimal point. Won't prejudge what the committee decides on rates. Committed to both mandates. Swap lines Dollar liquidity swap lines are part of monetary policy. Treasury can use ESF for swap lines unrelated to Fed's monetary policy.