Whoa, is Warsh getting ready for a rate cut? Fed Chair Warsh is changing the game—he’s planning to ditch the traditional inflation assessment method and switch to focusing on the 'trimmed mean' inflation metric, which excludes extreme monthly price swings. By the traditional core PCE measure, inflation in April is still stuck at a high 3.3%, refusing to budge. But if we go by the Dallas Fed metric recommended by Warsh, inflation drops straight to 2.3%.