Federal Reserve Chairman Warsh delivers Monetary Policy Report to Senate, says nothing about crypto
The new Fed chair's first semiannual testimony offered no signals on digital assets, leaving crypto markets to read between very empty lines.
Kevin Warsh, who took over as Federal Reserve Chair on May 22, 2026, delivered the semiannual Monetary Policy Report to the US Senate Banking Committee this week. It was his first time presenting the legally mandated report since assuming the role, and crypto got exactly zero mentions.
The report and the man behind it
The semiannual Monetary Policy Report is required by the Federal Reserve Act, and forces the chair to sit before Congress and lay out the central bank’s thinking on monetary policy, economic conditions, and financial stability.
Warsh previously served as a Federal Reserve Governor from 2006 to 2011 under Chairman Ben Bernanke, which means he was in the room during the 2008 financial crisis. His four-year term runs through May 21, 2030.
No specific economic projections, policy signals, or forward guidance from the testimony made it into widespread reporting.
What the crypto silence actually means
No references to digital assets or cryptocurrencies were made during the testimony or related reports. The complete absence of any digital asset references in Warsh’s first semiannual report suggests the new chair may be intentionally keeping distance from the topic.
The practical implication is that any crypto-specific regulatory action from the Fed, whether on stablecoins, bank custody of digital assets, or central bank digital currency development, likely isn’t imminent.