Fed Chairman Warsh Affirms Zero-Tolerance on Inflation in Congressional Testimony

Published: Jul 17, 2026 11:40

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Fed Chairman Kevin Warsh made his first congressional testimony since taking office, with the two-day testimony and Q&A sessions covering multiple areas of high market interest. Warsh noted that the June CPI and PPI data showed signs of improvement, but he also stressed that inflation indicators cannot fully and accurately reflect underlying inflation conditions. Warsh expressed a clear zero-tolerance stance on inflation and firmly committed to restoring price stability. Although he did not explicitly indicate a tightening of monetary policy, he mentioned that measures to curb inflation include the option of adjusting interest rates.

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