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Federal Reserve Chairman Kevin Warsh said policymakers at the central bank have no tolerance for high inflation, reiterating a vow to tame price growth that has been elevated for five years.
“The members of our committee have no tolerance for persistently elevated inflation,” Warsh said Tuesday in testimony before lawmakers. “And we share a resolute commitment to restoring price stability.”

The new Fed chairman has emphasized policymakers’ commitment to tackling inflation since he took office in May, and said the number one objective is to get monetary policy right.

Warsh’s appearance before the panel comes amid warnings from several other Fed policymakers that higher interest rates may be needed to curb inflation. The testimony was prepared prior to the Bureau of Labor Statistics’ release of fresh inflation data that showed consumer prices declined in June for the first time in six years and a key gauge of underlying inflation was little changed.

On this episode, Carol Massar and Tim Stenovec speak with:

• Yelena Shuylatyeva, Senior US Economist, The Conference Board on Warsh testimony, CPI reaction and PPI
• Geoff Karren, Energy Group Capital Chief Investment Officer & Portfolio Manager
• Udesh Jha, Chief Risk Officer, Kalshi AND Katherine “Kat” Doherty, Bloomberg News Finance Reporter on Kalshi Ramps Up Effort to Build Markets for AI Computing Power
• Chris Rovzar, Bloomberg Pursuits Editor-at-Large on Wearing Shorts to Work? That Should Be OK in 2026