WASHINGTON, DC - JULY 14: Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: U.S. Rep. French Hill (R-AR), Chairman of the House Financial Services Committee, listens as Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: Rep. Maxine Waters (D-CA), ranking member of the House Financial Services Committee, listens as Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: Rep. Maxine Waters (D-CA), ranking member of the House Financial Services Committee, listens as Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

WASHINGTON, DC - JULY 14: Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Capitol Hill on July 14, 2026 in Washington, DC. Warsh, President Trump's pick to lead the Federal Reserve, presented the Semi-Annual Monetary Policy Report to the committee. (Photo by Eric Lee/Getty Images)

(From L-R) US Supreme Court Justice Elena Kagan and US Supreme Court Justice Amy Coney Barrett testify during a House Appropriations Subcommittee on Financial Services hearing on Capitol Hill in Washington, DC, on July 14, 2026. Two US Supreme Court justices made a rare appearance before Congress on Tuesday, seeking funding to protect judges and their families after a divisive term that deepened tensions between the court and President Donald Trump. (Photo by Kent NISHIMURA / AFP via Getty Images)