Federal Reserve Chair Kevin Warsh will have his resistance to previewing interest-rate decisions tested again Tuesday morning when he appears before lawmakers for the first time since his confirmation.
Warsh, testifying before the House Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday, will likely field questions about his recently announced task forces.
He’ll be less willing to bite on whether the central bank should consider cutting interest rates while the Iran war continues to drive inflation.
The Commerce Department is expected to report this morning that so-called core inflation, or inflation that excludes food and energy, continued to accelerate in June even as oil and gas prices fell.
“If we get another hot reading on core inflation this week, then the [Fed] will need to consider tightening monetary policy in the near term,” Fed Governor Christopher Waller said Monday.