WSJ reporter asks about policy transmission; Chairman rejects strict trade-off between price stability and employment.

Nick. Nick Temeros of the Wall Street Journal. Chairman Warsh, I wanna follow up on Colby's question about policy transmission. You've said there's no cruel choice between stable prices and full employment. Rates bring inflation down by cooling demand. It's generally thought that can show up in the labor market. If that's not the channel you're relying on, what is? So let me go back to the first principles, Nick. I don't believe that either part of our mandate is generally at war with the other part. I do not believe that price stability and full employment isn't either or a proposition.