Navarro Rips Warsh as 'Not MAGA', Accuses Fed of Politicized Decision

White House Senior Trade Advisor Peter Navarro has publicly criticized Federal Reserve Chair Kevin Warsh, stating that he does not align with Trump's 'MAGA' agenda. Navarro made these comments on Steve Bannon's show Thursday, claiming that Warsh is actually working towards 'Make Recessions Great Again' or 'Make Stagflation Great Again.' This criticism comes after Warsh announced a 25 basis point interest rate hike to combat inflation.

Navarro, who has been a strong advocate for tariffs and a critic of the Federal Reserve's monetary policy, expressed his frustration with Warsh's decision. He accused Warsh of being 'one of them,' implying that he is secretly a Democrat. Navarro also claimed that the Fed Board's unanimous backing of the rate hike was due to their politicized nature.

The White House had been pushing for lower interest rates, and Trump has repeatedly expressed his desire to see rates cut to one percent or lower. Despite this, Warsh decided to raise rates in an attempt to combat inflation. Navarro stated that this decision will 'come back to haunt us' and that the Fed will make another 'monumental mistake' in October.