Trump says new Fed Chair Kevin Warsh can set interest rates independently
President Donald Trump stated that incoming Federal Reserve Chair Kevin Warsh will have full autonomy to set interest rates as he sees fit. This marks a shift from Trump's previous months-long campaign pressuring outgoing Chair Jerome Powell to cut rates. The remarks suggest a potential change in the administration's approach to monetary policy independence.
Key facts
- Trump says he will let new Fed Chair Kevin Warsh 'do what he wants' on interest rates
- The statement follows Trump's months-long pressure campaign on outgoing Fed Chair Jerome Powell to cut rates
- Kevin Warsh is the incoming Federal Reserve Chair
- Jerome Powell is the outgoing Federal Reserve Chair
Entities
Institutions
- Federal Reserve
Sources
- Quartz —