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Diane Swonk points out that the recent Federal Reserve statement clearly emphasizes price stability over its traditional dual mandate. She notes that the statement was shorter, incorporated aspects favored by Warsh, and its conclusion makes clear the Fed's bias in assessing current risks.
Swonk highlights the explicit focus on price stability as a significant signal of the central bank's priorities at this time.
Swonk previously noted that U.S. inflation measured by the PCE index stayed high in April, with price pressures persisting across sectors (article). She also highlighted that job openings in the U.S. rose to 7.6 million, mainly due to increases in professional business services (article). These recent observations provide context for Swonk’s current focus on the Federal Reserve’s prioritization of price stability.