Fed Chairman Kevin Warsh didn't sound as hawkish as I'd expected, says Roger Ferguson

• Roger Ferguson expects the Fed to eventually raise rates, despite the recent pause.
• He found Fed Chairman Kevin Warsh's recent commentary less hawkish than expected, leading to market confusion.
• Ferguson stressed that the Fed needs to follow through with action, not just words, to address inflation effectively.
• He highlighted that inflation has been above target for five years, indicating a failure in previous Fed policy.

Roger Ferguson, former Fed Vice Chairman, believes the Federal Reserve will eventually need to raise interest rates despite their recent decision to hold. He noted that Fed Chairman Kevin Warsh's commentary was less hawkish than anticipated, creating confusion in the market. Ferguson emphasized the need for the Fed to back its resolute words with decisive action to combat persistent inflation, which has been above target for five years.