Fed Defies Trump, Prepares to Raise Interest Rates Again

The Federal Reserve is expected to raise interest rates again, despite President Donald Trump's opposition. This decision comes four months into the tenure of Kevin Warsh, who was sworn in as chairman of the Federal Reserve and promised to be an independent leader with high ethical standards.

Warsh's predecessor faced similar challenges with sticky inflation and the need for higher interest rates. Despite this, Trump has consistently called for lower interest rates, which Warsh has refused to grant. This stance is in line with his promise to resist persistent calls from the president who appointed him.