Federal Reserve Chairman Kevin Warsh warned Friday that inflation remains well above the central bank's 2 percent target, underscoring the challenges facing policymakers at the annual Jackson Hole economic symposium.

Warsh's remarks come as fresh data showed the personal consumption expenditures price index held at 3.7 percent year-over-year in July, marking the 65th consecutive month above target. Core PCE inflation, which excludes food and energy, stayed at 3.3 percent.

Several regional Fed presidents have voiced similar concerns in recent days. Cleveland Fed President Beth Hammack reiterated calls for higher interest rates, noting that current policy settings are not sufficiently restrictive. Kansas City Fed President Jeffrey Schmid described inflation as stubborn and sticky, while Chicago Fed President Austan Goolsbee expressed worry that price pressures could reaccelerate.

The warnings follow a July policy meeting where three officials dissented in favor of a rate increase. The benchmark federal funds rate has remained in the 3.50 to 3.75 percent range since December.

Warsh, who assumed the chairmanship earlier this year, has repeatedly pledged to deliver price stability without providing detailed forward guidance on rate moves. Markets now assign higher odds to a possible rate hike by year-end following the latest inflation reading.

Inflation has proven resistant amid factors including tariffs and energy price volatility. Officials have stressed the risk that prolonged above-target readings could embed higher expectations among consumers and businesses.