Hearing Entitled: The Federal Reserve’s Semi-Annual Monetary Policy Report

This was a hearing of the House Financial Services Committee held on July 14, 2026, featuring testimony from Kevin Warsh, the newly confirmed Chairman of the Federal Reserve. The hearing focused on the Federal Reserve's semiannual monetary policy report, with extensive discussions on inflation, monetary policy tools, and the Fed's regulatory role. Chairman Warsh emphasized the Fed's commitment to restoring price stability and outlined reforms including the creation of five task forces to review communications, balance sheet policy, data usage, productivity and jobs, and inflation frameworks. Members questioned the chairman on topics such as the Fed's independence, the impact of fiscal policy and geopolitical events on inflation, the role of quantitative easing, and the Fed's approach to emerging technologies like artificial intelligence and digital assets. There was also significant discussion on the Fed's supervisory role, the importance of a diverse banking system, and concerns about mission creep beyond the Fed's statutory mandate. While no specific procurement or contracting actions were discussed, the hearing highlighted policy directions that could influence future regulatory and supervisory activities of the Federal Reserve.