Q3 GDP likely above 3%, led by healthy consumer spendingBusiness likely rising at about a double digit paceCapex is historically highEmployment conditions are positiveThe committee believes more information will help determine appropriate policy stepsCredit conditions have tightened for some households and businessesI'm unwilling and unable to call financial conditions tightInflation is too highEnergy and related prices have moved higher again in recent weeksOur job is to make sure inflation doesn't broaden outWe have shown our readiness to actIn 2027, will have 8 meetings but one meeting will not have a vote.In 2028, will have 8 meetings but two won't have a voteChange will allow a focus on longer-term deliberationsThis sounds like a hawkish lean, which is what's already priced into markets with 22 bps priced in for the December 9 meeting.Q&A:The first question was about 'why not hike today" and he said took a long victory lap (for some reason), then said:Inflation expectations have gone the right wayI feel good about the signpostsThe period in front of us is information richI'm encouraged by the progress we've madeThe overwhelming consensus is the monetary medicine we've used is that "it's worked some"The US dollar is lower on Warsh's comments, in part because he's saying that the one hike has worked or is working. This article was written by Adam Button at investinglive.com.