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FinanceFed Chair Kevin Warsh delivers first congressional testimony, vows to restore price stability
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Federal Reserve Chairman Kevin Warsh delivered his first semiannual monetary policy report to Congress on July 15, 2026. Warsh stated the Fed is committed to 'restoring price stability' through a 'regime change in policy' to end the inflation surge of the previous five years. He has appointed task forces to assess five key areas central to Fed policy. The task forces include notable economists such as former Bank of England Governor Lord Mervyn King and former Bush administration economic adviser Greg Mankiw. The report signals a significant shift in monetary policy approach under Warsh's leadership.
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Photograph: AP
Kevin Warsh delivered his first report to Congress as chairman of the Federal Reserve. Mr. Warsh stated that the Fed was committed to “restoring price stability,” which would require a “regime change in policy” to make the inflation surge of the previous five years “a thing of the past.”
Mr. Warsh has appointed task forces to assess each of the five areas central to the Fed’s policy. The task forces’ members include:
- Lord Mervyn King, a former governor of the Bank of England
- Greg Mankiw, who led George W. Bush’s Council of Economic Advisers
This article appeared in the “The world this week” section of the print edition under the headline “Business.”
From the July 18th 2026 edition
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