Key facts
- Federal Reserve Chair Kevin Warsh reiterated the central bank's focus on fighting inflation.
- Warsh's comments suggest a higher likelihood of an interest rate increase.
- The S&P 500 and Nasdaq both finished trading lower on Friday.
Major U.S. stock indices, including the S&P 500 and the Nasdaq Composite, concluded Friday's trading session in negative territory. The decline followed remarks from Federal Reserve Chair Kevin Warsh, who emphasized the central bank's ongoing commitment to combating inflation. Warsh's statements heightened expectations for a potential interest rate hike by the Federal Reserve. Traders are now split between a rate hike and a hold in September, as they were before inflation data this month painted a mixed picture.