Kevin Warsh, the newly confirmed Federal Reserve Chair, is stepping into the congressional spotlight for the first time since taking the helm. His semi-annual testimony before lawmakers on July 14 and 15 lands at a peculiar moment: inflation is finally slowing, but Warsh sounds like a man who still has unfinished business with rising prices.
The June Consumer Price Index drops on July 14, the same day Warsh testifies before the House. The Producer Price Index follows on July 15, right before his Senate appearance. Lawmakers will have fresh inflation numbers loaded in their questioning chambers before Warsh even sits down.
Earlier in 2026, inflation sat at roughly 4.1% on the Fed’s preferred measure, more than double the central bank’s 2% target. Recent data suggests that number has come down meaningfully. He has stated the Fed has “no tolerance for persistently elevated inflation” and pledged to make high inflation “a thing of the past.”
Warsh was nominated by President Trump and confirmed in May 2026. He previously served as a Federal Reserve Governor from 2006 to 2011, a period that included the global financial crisis. His track record from that era earned him a reputation as an inflation hawk.
