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)

US President Donald Trump greets Prime Minister of Iraq Ali al-Zaidi (L) outside the West wing of the White House in Washington, DC, on July 14, 2026. (Photo by SAUL LOEB / AFP via 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)

US President Donald Trump greets Prime Minister of Iraq Ali al-Zaidi (L) outside the West wing of the White House in Washington, DC, on July 14, 2026. (Photo by SAUL LOEB / AFP via 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)