Trump Tones Down Interest Rate Criticisms, Acknowledges Board's Role
US President Donald Trump has reiterated his preference for lower interest rates in an interview with Punchbowl News. However, he acknowledged that it's not entirely up to Federal Reserve Chairman Kevin Warsh's decision alone, citing a 'board' as also being involved.
In the past, Trump would frequently criticize former Fed Chair Jerome Powell for being too slow to lower interest rates, but now he seems to be taking a softer tone. He said he would like to return to the days when positive economic numbers meant lower interest rates, which is contrary to the usual relationship between the economy and monetary policy.
Trump has spoken with Warsh several times since his appointment as Fed Chief in May, according to Bloomberg. However, it's unclear if they discussed monetary policy specifically. Trump's attempts to influence central bank policy have raised concerns in the past.