WATCH LIVE: Fed chair Kevin Warsh testifies on monetary policy in House hearing

By — Michelle Chapman, Associated Press Michelle Chapman, Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/politics/watch-live-fed-chair-kevin-warsh-testifies-on-monetary-policy-in-house-hearing Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter WATCH LIVE: Fed chair Kevin Warsh testifies on monetary policy in House hearing Politics Jul 13, 2026 6:26 PM EDT New Federal Reserve Chair Kevin Warsh is testifying Tuesday on the agency's semi-annual monetary policy report before the House Financial Services Committee. The hearing is set to begin at 10 a.m. EDT on July 14. Watch in live in the player above. The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses. The deep divide at the U.S. Fed over inflation The Federal Reserve's rate-setting committee is split over whether inflation is likely to stay elevated or whether it will cool once the Iran war winds down, according to minutes released last week. READ MORE: Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation In the first set of minutes released under Warsh's term as chair, "many" of the Fed's 19 officials said its key rate would be unchanged from or slightly below its current level of 3.6% by the end of this year. But they also also said that it would likely be higher by year-end. Educate your inbox Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else. Forecasts released after the meeting ended June 17 showed that half of the 18 policymakers who submitted projections supported lifting rates by the end of this year, while the other half supported keeping them unchanged or reducing them. Warsh did not submit a forecast, reflecting his view that doing so can lock policymakers into a specific approach that is harder to change if the economy shifts direction. U.S. home prices hit all-time high Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to prospective homebuyers' affordability challenges. Existing home sales fell 2.4% last month from May to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors said last week. Sales rose 2.8% compared with June last year. READ MORE: U.S. mortgage rates are staying high – and the Federal Reserve can do little about it The latest sales tally fell short of the roughly 4.21 million pace economists were expecting, according to FactSet. Despite the lackluster sales, home prices continued to rise nationally last month. The U.S. median sales price increased 1.8% in June from a year earlier to $440,600, an all-time high on data going back to 1999, NAR said. Home prices have risen on an ann