On the record about
2 people · 3 quotes · 28 Aug 2026 to 28 Aug 2026
2 of 2 lanes rest on fewer than 5 quotes and are marked thin. Offsets are days from the middle first-quote date, 28 Aug 2026 — a date, and nothing else. It is not a claim about who reached a view first.
Warsh accepts full Federal Reserve responsibility for 65 months of sustained elevated inflation.
“Responsibility for sixty five months of sustained elevated inflation sits squarely with the central bank, and that's where it belongs.”
Williams states central banks must own responsibility for price stability with independence and capability to deliver.
“Central banks must own the responsibility to deliver price stability and have the independence of action and the ability to achieve it.”
Williams describes how diffused accountability means no single person makes a bad decision, yet the system fails.
“Later, when the risk materializes, we conduct a review and find that no single person made a bad decision. Instead, the system as a whole failed to “see” the risk clearly.”