Kevin Warsh just held his first ever hearing as Fed Chair, and he came out swinging against inflation. Here is everything he said. • "The Fed has no tolerance for elevated inflation" • "The Federal Reserve can and will deliver price stability" • The Fed is willing to adjust both interest rates and its bond holdings to manage inflation • "The unemployment rate is low and barely changed over the past year" • The June jobs report showed hiring slowed more than expected, but the job market is still in good shape overall • Asked if he would bail out crypto and stablecoins: "We are not in the bailout business, full stop" • "We're not bailing out anybody including crypto" • Asked about the President's crypto profits, he declined to answer and said he is focused on the job • Asked about insider trading in prediction markets, he said he sent a letter to Fed employees in his first week stressing integrity and ethical conduct Trump made supporting rate cuts a requirement for anyone who wanted the Fed chair job. Warsh spent his first hearing making clear that does not mean he will let inflation run.(Crypto Rover)