03:18 PM EDT, 07/15/2026 (MT Newswires) -- Fed Chairman Kevin Warsh (voter) repeated that the FOMC will take ownership of inflation and take actions if needed to bring it back toward the 2% goal but did not provide forward guidance.

Warsh again said that monetary policy caused inflation through its policy and that would not be the case under his leadership, adding that he will make policy decisions independent of political influence. He also noted that AI will likely raise prices but should be followed by productivity gains that will slow that price inflation.

Fed Governor Lisa Cook (voter) said it was appropriate to hold interest rates steady at its last meeting to see how inflation progresses, noting that risks continue to be weighted toward higher inflation. She added that she is prepared to act if she does not see signs of disinflation in the near term.

New York Fed President John Williams (voter) said that economic growth is solid, and the labor market is stable but noted that inflation remains above the Fed's 2% goal and needs to be brought down. Williams added that the stance of monetary policy is "well positioned" to deal with inflation, which he expects to slow in coming quarters.

The Fed's Beige Book showed slight to moderate growth in the US economy over the recent period, roughly in line with the previous Beige Book report. Consumer spending was solid overall, and tourism got a boost from the World Cup, while hiring was little changed from the previous period and inflation growth was slower, but some districts still reported brisk price gains.