Fed Chair Warsh Testifies as June CPI Posts Steepest Monthly Drop Since April

Federal Reserve Chair Warsh, who has advocated for the central bank to communicate less, was legally required to testify before Congress on Tuesday. His appearance coincided with the release of favorable inflation data.

June's Consumer Price Index (CPI) dropped 0.4% from the previous month, marking the steepest single-month decline since April. The data provided a rare positive note during the hearing.