u/Dioxbit

TL;DR: Warsh wants the Fed to judge inflation using Trimmed Mean PCE instead of Core PCE. That matters because Trimmed Mean PCE is currently much lower — about 2.36% versus 3.20% for Core PCE — making inflation look closer to target and giving the Fed more justification to cut rates.

https://www.brookings.edu/articles/what-are-trimmed-mean-and-median-inflation-rates-and-why-does-kevin-warsh-prefer-them/

https://preview.redd.it/umz0cl2rtt1h1.png?width=2000&format=png&auto=webp&s=c26b454e30f6c2bd4b7c27c3815b411724696b0a