Fed chair Kevin Warsh promises to defeat five years of elevated inflation in Congress debut

Warsh held rates steady at 3.5%–3.75% at his first FOMC meeting and outlined 5 task forces to review Fed operations

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Federal Reserve Chair Kevin Warsh pledged Tuesday to defeat five years of above-target inflation, telling the House Financial Services Committee that getting monetary policy right is the central bank's "number one objective."

"If we get policy right — and we will — the inflation surge of the last five years will be a thing of the past," Warsh said in his opening remarks. Tuesday's appearance before the House panel marks Warsh's first congressional testimony as Fed chair. He is scheduled to appear before the Senate Banking Committee on Wednesday.

Warsh told........

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