Federal Reserve Chairman Kevin Warsh , in comments Wednesday at the ECB Forum on Central Banking , declined to give any signal as to what the central bank may do at its meeting later this month, but did note that inflation was too elevated. "We're all in the price stability business, that might not be our only business, but if there was a common thing I heard over the last couple of days, it was open-mindedness on these questions of AI, open-mindedness on productivity, but we've all looked around, and we've seen that prices are too high," Warsh told CNBC's Sara Eisen during the panel in Sintra, Portugal. The new central bank leader also said some of the staffing for his five task forces that he unveiled last month to study the various functions of the Fed will be announced next week . "My hope, my aspiration, is that nine-12 months from now we're going to be using new technologies to understand what's happening in the real economy in a contemporaneous real-time way that positions us as central bankers to make better decisions," Warsh added . Along with Warsh, the group also featured European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem. Aside from his post-meeting news conference two weeks ago, this is the first time Warsh has spoken publicly since being confirmed in May. The Fed has been on hold this year with interest rates as policymakers weigh the persistence of inflation against other economic factors. Here are the highlights of the panel: Correction: This article has been updated to correct a quote from Warsh. Warsh said he's been encouraged by inflation expectations easing recently, but the current level still isn't good enough. "If there were people in household or the business sector, in the financial markets, who thought that this central bank was going to be comfortable with an inflation objective above 2%, well, I guess they'd be disappointed," he said. "We're going to deliver price stability in the U.S." The Fed's preferred gauge showed core inflation at 3.4% in May, with the headline all-items index even higher at 4.1%. One key part of the Warsh revamp at the Fed is how it utilizes data in its policy decisions. The chairman said he's hoping that in a year, the central bank has a totally different approach. "My hope, my aspiration, is that nine-12 months from now we're going to be using new technologies to understand what's happening in the real economy in a contemporaneous real-time way that positions us as central banker to make better decisions," he said. Long a critic of conventional data tools provided by government agencies, Warsh said "the conventional wisdom" is his least favorite data point. Bank of England Governor Andrew Bailey said central bankers were monitoring issues that could carry tail risk and potentially trigger financial instability. "We look at the increase in leverage in core government bonds markets. These markets have changed...
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