Fed Chairman Warsh Reaffirms Commitment to Price Stability Amid Hawkish FOMC Pivot

Federal Reserve Chairman Kevin Warsh has reiterated the central bank's "resolute commitment to restoring price stability," stating that the Federal Open Market Committee (FOMC) has "no tolerance for persistently elevated inflation." His comments follow a cooler-than-expected June inflation report and come amidst a hawkish pivot within the FOMC, with some policymakers projecting interest rate hikes later in the year.