[Wash: Credit Conditions Have Tightened, But He Won't Call It a Tightening] Odaily Planet Daily reports that Federal Reserve Chairman Warsh praised strong economic growth and a healthy labor market in his opening remarks, but also warned that inflation was "too high." Warsh stated that economic growth in the third quarter appeared to be "more rapid," partly due to strong consumer spending and business investment. He noted that in terms of business investment, "high-tech investment is leading this acceleration." Wash added that the unemployment rate is currently low, and employment is maintaining healthy growth. At the same time, he stated that the Fed is not satisfied with the progress made in combating inflation. "Lowering inflation is our responsibility," he said. Warsh mentioned that credit conditions have tightened since the Fed's last rate hike, but he immediately stated, "I neither want to nor can describe it as a 'tightening.'" (Jinshi)