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Fed Chair Warsh Tells Congress FOMC Has 'No Tolerance for Persistently Elevated Inflation' in First Testimony

2026-07-15 04:21:54

According to Kitco News, Fed Chair Kevin Warsh testified before Congress for the first time in his role, reaffirming the Federal Open Market Committee's commitment to price stability. "Underlying inflation over longer time horizons is determined largely by monetary policy," Warsh said, adding that FOMC members "have no tolerance for persistently elevated inflation." He characterized the U.S. economy as expanding at a solid pace, with strong productivity growth and a broadly stable labor market, though he noted that the housing sector "continues to lag." Warsh highlighted surging business investment—particularly in data centers and AI-related equipment—as "the most striking feature of the economy right now."

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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