Federal Reserve Chair Kevin Warsh signaled that interest rates may rise, stating at a Central Banking forum that "prices are too high." The comment marks his clearest indication yet on policy direction, as markets now price a 52% chance of a quarter-point rate hike at the September meeting and another increase projected in March 2027. Warsh, who has advocated for less Fed communication, emphasized the central bank's focus on price stability despite earlier speculation he might favor lower rates. The outlook remains uncertain amid divisions within the Federal Open Market Committee and external factors such as the Iran war driving oil prices higher.