Federal Reserve Chair Kevin Warsh answered his critics by signaling preparedness to adjust policy without committing to a September decision.

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In his keynote address on Friday, Chair Warsh outlined guiding principles and his views of the economy. A relatively solid backdrop and concerns about inflation have centered the Fed's debate on whether to tighten policy by hiking rates.

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Warsh appeared to set the criteria for a continued hold by stating that "[the Fed] must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed" or it would "have work to do". He qualified his present guidance by noting he was "committed to a discipline, not a decision", leaving the September FOMC outcome a likely toss-up.