Fed’s Warsh: ‘We have work to do’ on inflation

Stock prices in London closed higher on Friday, joining a broader rally across European and US equities, while Federal Reserve chairman Kevin Warsh’s inflation warning boosted expectations for higher US interest rates.

U.S. Fed Chair Warsh signals rate hikes may be needed with inflation still elevated

The Jackson Hole symposium has typically served as a platform for Fed chairs to offer clarity on the central bank’s general direction.

The Dow Jones Industrial Average traded up about 0.15% to 0.3% in early trading, changing hands near 53,650, while the S&P 500 edged modestly higher.