Latest improvement on inflation isn’t ‘mission accomplished,’ Warsh says | CNN Business

• Kevin Warsh appeared before lawmakers on Capitol Hill for the first time as Fed chairman, where he delivered his semiannual testimony to the House Finance Committee. • Warsh reaffirmed the central bank’s commitment to bringing down inflation and said that the Fed will remain free of political influence. • Warsh’s assessment of the US economy came as the latest monthly inflation report showed the pace of price hikes slowed sharply in June as tensions eased in the Middle East and energy prices dropped. • However, with the United States and Iran now back to exchanging military attacks, that price relief could prove short lived for American consumers and businesses. Warsh told lawmakers June’s monthly drop in inflation does not mean “Mission Accomplished.” Our live coverage of Federal Reserve Chairman Kevin Warsh’s first day of testimony to Congress has ended. More analysis is available here. Democratic Sen. Elizabeth Warren of Massachusetts denounced Federal Reserve Chairman Kevin Warsh’s decision to not submit economic forecasts at last month’s policy meeting, according to a letter obtained by CNN. The letter, which the senator plans to submit to Warsh on We