Trump Trusts Fed Chair Warsh on Rate Hikes
President Donald Trump expressed confidence in Federal Reserve Chair Kevin Warsh's ability to make decisions about interest rates, stating 'I have a lot of respect for him, and he'll do what he has to do.'
When asked if he opposed Warsh's potential rate increase, Trump replied 'no,' citing his belief that the current interest rates are too high.
'We should have the lowest interest rates in the world, because if we wanted... a lot of countries that are paying less interest rate only because of us, because they do business with us,' he said.
In his first speech at the annual Jackson Hole Economic Policy Symposium on Friday, Warsh noted that while inflation numbers have recently been better than expected, 'they do not tell me that underlying trends have meaningfully improved.'