Lawmakers Kick Off House Hearing With Kevin Warsh

But with the United States and Iran now back to exchanging military attacks, that relief could prove short lived.

Kevin M. Warsh is set to reiterate his commitment to bringing down inflation at his first congressional hearing since becoming chairman of the Federal Reserve.

The key 10-year Treasury yield — the main benchmark for U.S. government borrowing — was more than 1 basis point higher, at 4.622% by 6:02 a.m. E.T.

The Consumer Price Index (CPI) from the Labour Department on Tuesday also showed underlying inflation subsiding last month amid declines in the costs of motor vehicle insurance, communication, apparel, healthcare as well as used cars and trucks.