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Federal Reserve Chairman Kevin Warsh testifies Tuesday before the House Financial Services Committee as part of the semiannual monetary policy report approved by Congress.
The central bank chief’s appearance came on the same day the Bureau of Labor Statistics reported that consumer prices unexpectedly fell sharply 0.4% in June, easing some of policymakers’ concerns about inflation.
In his prepared remarks, Warsh vowed to fight tirelessly to return inflation to the Fed’s 2% target.
“Our committee members cannot tolerate ever-increasing inflation. And we share a strong commitment to restoring price stability,” he said.
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