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Watch Fed Chairman Kevin Warsh testify live to House Financial Services committee
CNBC • • general
Key Points:
- Federal Reserve Chairman Kevin Warsh is scheduled to testify before the House Financial Services Committee as part of the semiannual monetary policy report.
- His appearance coincides with a report from the Bureau of Labor Statistics showing a sharper-than-expected 0.4% decline in consumer prices for June, easing some inflation concerns.
- In prepared remarks, Warsh emphasized the Fed's firm commitment to reducing inflation to its 2% target, stating there is no tolerance for persistently high inflation.
- Warsh also highlighted the potential benefits of investments in artificial intelligence as part of the economic outlook.
- Recent Fed meeting minutes reveal a split among officials regarding the future path of interest rates amid evolving inflation signals.
