Federal Reserve Chairman Kevin Warsh, in his first semi-annual address to lawmakers since taking office two months ago, pledged to bring inflation under control, stating that monetary policy remains the key driver of long-term inflation. He highlighted AI investment as a source of future productivity and disinflation, and announced five internal task forces to review and reform Federal Reserve operations. In remarks prepared for delivery to the House Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday, Warsh said the Fed’s number one objective is to get monetary policy right, adding that "the inflation surge of the last five years will be a thing of the past." He acknowledged that persistently high costs, compounded recently by soaring energy prices, have placed an "undue burden on American households and businesses," but reiterated that price stability remains entirely within the Fed's control. Warsh characterized the broader US economy as expanding at a "solid pace," singling out business investment as the "most striking feature," driven predominantly by construction of specialized data centers, immense commercial demand for AI-related equipment, and accelerated procurement of advanced software.