Fed Chair Kevin Warsh vows to defeat inflation, says economy expanding at solid pace

According to CNBC, Federal Reserve Chairman Kevin Warsh told Congress he is focused on getting monetary policy right and ending the inflation surge that has persisted for the past five years. In remarks prepared for appearances before the House Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday, Warsh said the economy is expanding at a solid pace and highlighted strong business investment, pointing to accelerating construction of data centers and demand for AI-related equipment and software. He also said he has created five task forces to review the central bank’s operations, including communications, technology, the balance sheet, the economic data it uses and its approach to inflation.