local
Warsh to say Fed has 'no tolerance' for high inflation but provides no hints on next move
By Christopher Rugaber, Associated Press at KSAT 12 (ABC affiliate)
· July 14, 2026
· 3 min read
Federal Reserve Chair Kevin Warsh said in written testimony Tuesday the Fed will make high inflation “a thing of the past," yet provided no signal about the central bank's next steps. Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh will say when he testifies at 10 ...
Key takeaway In keeping with his stated policy of providing less guidance about the Fed's policies, he did not signal in his testimony whether rate increases would be necessary to combat inflation, which has reached 4.
Why this matters in The San Antonio
For San Antonio residents, the Federal Reserve's stance on inflation has direct implications for their daily lives, particularly when it comes to gas prices. With the recent increase in gas prices due to the Iran war, locals are feeling the pinch. The 35% higher gas prices compared to pre-war levels are affecting commuters, small business owners, and low-income families who rely on affordable transportation. As the Fed navigates its approach to combating inflation, San Antonians will be watching closely to see how interest rate decisions impact their purchasing power and cost of living. The city's economy, which is heavily influenced by tourism, healthcare, and technology industries, may also be affected by the semiconductor price hikes resulting from the "hyperscalers'" investment in artificial intelligence infrastructure. As Warsh testifies before the House committee, San Antonio residents will be looking for signs of how the Fed's policies will impact their local economy and household budgets.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 14, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? Federal Reserve Chair Kevin Warsh said in written testimony Tuesday the Fed will make high inflation “a thing of the past," yet provided no signal about the central bank's next steps. Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh will say when he testifies at 10 ...
When was this published? This article was first published on July 14, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Christopher Rugaber, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The San Antonio, or browse our daily briefing and topic hubs .
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