Trump Spares Warsh from Criticism Despite Fed Rate Hike
President Donald Trump has surprisingly given Federal Reserve Chairman Kevin Warsh a pass after the central bank unanimously voted to raise interest rates. This decision comes despite Trump's repeated attacks on his predecessor, Jerome Powell, for holding interest rates steady rather than cutting them.
Trump had been critical of Powell and called for the Fed to lower rates for months. However, now that Warsh has raised rates, Trump has steered clear of attacking him.
In a press conference this week, Warsh indicated there is a division between the Trump administration and himself on Fed independence. When asked about conversations he had with Trump, Warsh declined to provide any details, citing the importance of staying in his lane as part of the Federal Reserve's independence.