US Federal Reserve Chair Kevin Warsh testifies during a House Financial Services Committee hearing titled "The Federal Reserve's Semi-Annual Monetary Policy Report" on Capitol Hill in Washington, DC, on July 14, 2026. (Photo by Brendan SMIALOWSKI / AFP via Getty Images)

WASHINGTON, DC - JULY 14: Federal Reserve Chairman Kevin Warsh (R) shakes hands with U.S. Rep. French Hill (R-AR), Chairman of the House Financial Services Committee, before testifying 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 arrives to testify to 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 arrives to testify to 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 arrives to testify to 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 arrives to testify to 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)

US Supreme Court Justice Amy Coney Barrett prepares to testify during a House Appropriations Subcommittee on Financial Services hearing on Capitol Hill in Washington, DC, on July 14, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

US Supreme Court Justice Elena Kagan prepares to testify during a House Appropriations Subcommittee on Financial Services hearing on Capitol Hill in Washington, DC, on July 14, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)