Warsh: Credit conditions have tightened somewhat, but I'm unwilling to call it restrictive

Odaily reports: In his opening remarks, Federal Reserve Chair Warsh praised strong economic growth and a healthy labor market, but also warned that inflation is "too high." Warsh said third-quarter economic growth appears to be "more rapid," partly thanks to strong consumer spending and business investment. He noted that in terms of business investment, "high-tech investment is leading this acceleration in growth."

Warsh added that the unemployment rate is currently low and employment levels are maintaining healthy growth. At the same time, he said the Fed is not yet satisfied with the progress made in fighting inflation. "Bringing down inflation is our responsibility," he said. Warsh mentioned that since the Fed's last rate hike, credit conditions have tightened somewhat, but he immediately added: "I am neither willing nor able to describe it as 'restrictive.'" (Jinshi)