Federal Reserve Board Chair Warsh testified before the Senate Banking Committee, stating that the central bank has not fully met its price stability mandate and will assess the need for policy adjustments while considering all options, including rate hikes and cuts. He emphasized that there have been no inappropriate demands from President Trump and underscored his commitment to maintaining independence. While acknowledging that artificial intelligence-related investments are pushing up prices, he noted that supply-side responses mean this does not necessarily lead to inflation, though price indicators are likely to be elevated over the next 12 months.