Fed Chair Warsh pushes 5 reviews, vows end to inflation surge
What's new: Warsh used his first semiannual House testimony to defend a broader overhaul of Fed policy, data and communications.
Federal Reserve Chair Kevin Warsh told the House Financial Services Committee on Tuesday that he is pursuing a broad reset at the central bank as he tries to stamp out inflation that has run above the Fed's 2% goal since 2021. Warsh said five internal task forces are reviewing the Fed's communications, technology, balance sheet, economic data and approach to inflation. He criticized the 2020 framework that tolerated periods of above-target inflation after weaker price growth, arguing it helped let inflation stay too high for too long. The testimony came about two months into Warsh's term and drew questions from lawmakers about the Fed's independence after repeated pressure from President Donald Trump on the previous chair, Jerome Powell.