Federal Reserve Chairman Kevin Warsh appears before the House Financial Services Committee to deliver the semi-annual monetary policy report on the central bank, at the Capitol in Washington, Tuesday, July 14, 2026. (AP Photo/J. Scott Applewhite)

Federal Reserve Chairman Kevin Warsh appears before the House Financial Services Committee on Capitol Hill, Tuesday, July 14, 2026, in Washington. (AP Photo/Mark Schiefelbein)

Federal Reserve Chairman Kevin Warsh appears before the House Financial Services Committee on Capitol Hill, Tuesday, July 14, 2026, in Washington. (AP Photo/Mark Schiefelbein)

Federal Reserve Chairman Kevin Warsh appears before the House Financial Services Committee on Capitol Hill, Tuesday, July 14, 2026, in Washington. (AP Photo/Mark Schiefelbein)

The Secretary of Foreign Affairs of Mexico, Roberto Velasco (L), and the Secretary of Economy of Mexico, Marcelo Ebrard, attend Panama's President Jose Raul Mulino's welcome ceremony at the National Palace in Mexico City on July 15, 2026. (Photo by YURI CORTEZ / AFP via Getty Images)

TOPSHOT - A labourer carries fruit baskets at a wholesale market in Lahore on July 15, 2026. (Photo by Arif ALI / AFP via Getty Images)

US Federal Reserve Chair Kevin Warsh (R) shakes hands with committee chairman Senator Tim Scott, Republican from South Carolina, at the end of a Senate Banking Committee hearing titled "The Semiannual Monetary Policy Report to the Congress" on Capitol Hill in Washington, DC, on July 15, 2026. (Photo by Ken Cedeno / AFP via Getty Images)

US Federal Reserve Chair Kevin Warsh testifies during a Senate Banking Committee hearing titled "The Semiannual Monetary Policy Report to the Congress" on Capitol Hill in Washington, DC, on July 15, 2026. (Photo by Ken Cedeno / AFP via Getty Images)