Fed Draws Line Against White House After Rate Hike

Federal Reserve Chairman Kevin Warsh has reaffirmed the central bank's independence in decision-making after hiking interest rates despite President Donald Trump's lobbying for a rate cut.

Warsh spoke at a press conference on Wednesday following the rate decision, where he was asked about the potential implications of defying the president's wishes.

'Stay in our lane,' Warsh said in response to a question from the Washington Examiner, drawing a clear line between the Fed and the White House.

The chairman did not provide any details about conversations with the president regarding the rate decision.