Federal Reserve Chair Reiterates Commitment to 2% Inflation Target

Federal Reserve Chairman Kevin Warsh affirmed the central bank's resolve to achieve its 2% inflation goal during congressional testimony, despite a recent moderation in the June Consumer Price Index. This hawkish stance suggests potential future rate increases, as bond yields have largely reversed earlier gains. Markets are now anticipating the release of the Producer Price Index, which is expected to show lower energy and transport costs.