Federal Reserve Chairman: The current inflation level in the United States remains too high.

Kevin Wash, Chairman of the Federal Reserve Board, said at the European Central Bank Forum in Portugal on July 1 that current inflation levels in the United States remain too high, and reiterated that the priority of the Federal Reserve's work is to ensure price stability. Wash said the Fed will "open up a new policy path," but did not provide further details, while avoiding questions about whether there will be a rate hike at the July monetary policy meeting, emphasizing that no forward guidance will be given on future rate policies. Wash stated that the Fed is setting up an independent working group to conduct research on topics such as monetary policy communication, economic data systems, productivity, inflation frameworks, and balance sheet policies. He believes that if the existing policy framework affects decision-making efficiency, reforms should be implemented.