At the September 16 2026 press conference Kevin Warsh said the plain fact is that inflation is too high and has been for too long, that today's action will support a timelier return to the 2% objective, that this summer's inflation readings do not tell him underlying trends have meaningfully improved, and that he would be hard-pressed to describe broad financial conditions as restrictive. He said the Fed cannot affect any individual price such as oil but can ensure a change in relative prices does not broaden into second- and third-order effects, and that on trade and fiscal policy the Fed stays in its lane. Equities turned lower during the remarks.