Trump Calls Fed Chair Regularly Amid Interest Rate Debate

President Donald Trump has been holding regular phone conversations with Federal Reserve Chair Kevin Warsh since he took office in May, according to a new report. The calls have been taking place periodically and cover various topics such as economic forecasts and broader issues affecting the US economy. However, sources say that Trump has not pressured Warsh to pursue a specific monetary policy or interest-rate decision.

The White House defended the contacts, stating that they do not undermine the Federal Reserve's independence. White House spokesman Kush Desai said in a statement, 'President Trump has repeatedly stressed that he is giving Chairman Warsh the space he needs to restore confidence and competence in Fed decision-making.'

Warsh has consistently maintained that he intends to operate independently despite his communications with the White House. During testimony before the Senate Banking Committee in July, lawmakers pressed him on whether Trump had contacted him since he became Fed chair. Warsh declined to discuss private conversations.