BusinessJuly 15, 2026

Warsh and the Fed: What the Chairman Said About Inflation

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Key Vocabulary

inflation/ɪnˈfleɪ.ʃən/

the rise in the general level of prices

"High inflation makes food and rent more expensive."

interest rate/ˈɪn.trəst reɪt/

the cost to borrow money, shown as a percent

"A higher interest rate makes loans more expensive."

jobs market/dʒɒbz ˈmɑːr.kɪt/

the supply and demand for work and workers

"A strong jobs market can help people find work."

Listening

Warsh and the Fed: What the Chairman Said About Inflation

Kevin M. Warsh spoke to the House Financial Services Committee on July 14, 2026. He is the new chair of the Federal Reserve and he talked about prices and the economy.

He pledged to make high inflation a thing of the past and said the Fed has no tolerance for persistently elevated inflation. He spoke about the jobs market and said the Fed will watch changes in employment and prices.

He did not give details about interest rate plans and he did not say whether the Fed will raise interest rates. The next Federal Open Market Committee meeting is July 28-29, 2026.

102 words

Quiz

1. Who gave the testimony?

2. Where did he speak?

3. What did he pledge to do?

Reading Practice

Read the article from the Listening section aloud. Your AI teacher will give you pronunciation feedback.

Discussion

Do you follow news about prices and inflation where you live?

Have you ever changed your shopping because prices rose? What did you buy less of?

What do you think about the idea that the central bank should focus on price stability?