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)

TOPSHOT - US President Donald Trump looks at an Indy car during a Freedom 250 Grand Prix Showcase outside the White House in Washington, DC, on July 13, 2026. The Freedom 250 Grand Prix race will be the fifteenth round of the 2026 IndyCar Series, taking place on August 22-23 in Washington, DC. (Photo by SAUL LOEB / AFP via Getty Images)

TOPSHOT - US President Donald Trump reacts after being given a racing helmet from Spanish driver Alex Palou (L) and Penske Corporation chairman Roger Penske (R) during a Freedom 250 Grand Prix Showcase outside the White House in Washington, DC, on July 13, 2026. The Freedom 250 Grand Prix race will be the fifteenth round of the 2026 IndyCar Series, taking place on August 22-23 in Washington, DC. (Photo by SAUL LOEB / AFP via Getty Images)

TOPSHOT - US President Donald Trump looks on after signing an executive order to drastically shrink two national monuments in Utah, paving the way for fossil fuel extraction and mining, at the Oval Office of the White House in Washington, DC, on July 13, 2026. The issue has become something of a political football. Previously, President Trump had targeted the two monuments, Bears Ears and Grand Staircase-Escalante, during his first term in 2017, before his Democratic successor, Joe Biden, restored them to their original boundaries in 2021. (Photo by SAUL LOEB / AFP via Getty Images)