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Fed Chair Wash Maintains Rates at 3.5%-3.75%, Reaffirms Zero Tolerance for High Inflation on July 14

2026-07-14 15:23:24

According to Yonhapinfomax, Federal Reserve Chair Kevin Wash testified before the U.S. House Financial Services Committee on July 14, reaffirming the Fed's unwavering commitment to price stability. Wash stated that committee members remain firm in refusing to tolerate elevated inflation. During June's Federal Open Market Committee meeting, the Fed maintained its federal funds rate target range at 3.5%-3.75%, with Wash emphasizing that proper policy execution will ensure the inflation surge of the past five years becomes history.

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