New Delhi, Aug. 28 -- US stock markets rose on Friday as Federal Reserve Chair Kevin Warsh's pledged to bring inflation under control.

In his first speech at the Jackson Hole, Warsh warned price pressures aren't meaningfully slowing while pledging to achieve the Fed's target. His comments bolstered bets on a Fed rate hike this year.

"Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do. That's our job," Warsh said in his prepared remarks.

Warsh added that financial conditions are not currently restrictive and interest rates are the Fed's "predominant tool" for achieving its mandate.

As of 10:45 a.m. Eastern Time, the S&P 500 rose ...