Federal Reserve Chairman Kevin Warsh spoke Tuesday to the House Financial Services Committee as part of the congressionally mandated semiannual monetary policy report.
The central bank leader’s appearance came the same day the Bureau of Labor Statistics reported that consumer prices fell an unexpectedly sharp 0.4% in June, easing some worries among policymakers about inflation.
In remarks prepared for the appearance, Warsh promised a vigilant fight to return inflation to the Fed’s 2% target.
“The members of our Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability,” he said.
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