During a heated exchange, Rep. Stephen Lynch challenged Federal Reserve Chair nominee Kevin Warsh over the Fed's role in artificial intelligence, warning the U.S. risks falling behind in the global AI race. Warsh pushed back, arguing “it's not the central bank's job” to direct AI investment or industrial policy, stressing the Fed's mandate is monetary policy and financial stability. The clash spotlighted growing debate over AI regulation, economic competitiveness, and the future of U.S. technology leadership. The exchange was reported by ET Online on 14 Jul 2026, 11:24PM IST.