Fed Chair Kevin Warsh to testify before House Financial Services Committee amid cooling inflation data
Federal Reserve Chair Kevin Warsh will appear before the House Financial Services Committee as consumer prices posted a 0.4% decline in June, prompting remarks on the Fed's inflation goals.
Federal Reserve Chairman Kevin Warsh is scheduled to testify before the House Financial Services Committee at 10 a.m. ET as part of the semiannual monetary-policy report required by Congress. His appearance coincides with the Bureau of Labor Statistics reporting a 0.4% drop in consumer prices for June, which eased some concerns about inflation among policymakers.
In prepared remarks, Warsh said the committee shares a "resolute commitment to restoring price stability" and pledged a vigilant effort to bring inflation back to the Fed’s 2% target.
The testimony comes as Fed officials remain divided over the future path of interest rates, according to recent meeting minutes.