Federal Reserve Chairman Kevin Warsh went to Congress this week for the first time since taking the job. He told senators the central bank is "determined to bring rising prices under control" (NPR).

The Federal Reserve, often called "the Fed," is the government agency that sets interest rates — the cost of borrowing money. When the Fed raises rates, borrowing gets more expensive, which tends to slow down rising prices, or inflation. Every six months, the Fed chair gives Congress a report on where the economy stands and what the Fed plans to do.

Warsh gave his report to the Senate Banking, Housing, and Urban Affairs Committee on July 15, 2026, according to the Fed's published record (Federal Reserve). The Fed posted his written testimony on July 14. Warsh was also scheduled to deliver the same report to the House Financial Services Committee the same month (Federal Reserve).

NPR reported on July 16 that Warsh talked about more than just interest rates. He also touched on artificial intelligence and immigration. But Reuters, in a report published July 15, described him differently. It said the new chairman "sticks to policy silence" during his first appearance before Congress (Reuters via Yahoo Finance).

The Associated Press reported that Warsh avoided senators' questions on inflation, artificial intelligence, and whether he had been in contact with President Trump (Associated Press via ClickOnDetroit).

Warsh had been chairman for only about a week. The Fed announced him as chairman on July 9 (Federal Reserve). One day before that, on July 8, the Fed released notes from its last rate-setting meeting, held June 16–17. Those notes were from before Warsh took over.

The broader context here is that Warsh is still new to the job. His written testimony said the Fed is committed to keeping prices stable. But according to the AP and Reuters, he did not explain how he would do that, and he skipped questions on several politically sensitive topics. For a new chairman in his first appearance before Congress, that suggests a strategy of keeping his message tight and controlled. Speaking too freely could move financial markets or pull the Fed into political arguments it wants to avoid.

The real test will come later, when Warsh has to make specific decisions about interest rates. For now, the record shows a new chairman who told Congress he is serious about inflation, talked about AI and immigration, and, according to two major news agencies, did not go much further than that.