Warsh Faces Showdown with Trump Over Interest Rate Hikes

Federal Reserve Chairman Kevin Warsh is preparing for a showdown with President Trump as the Fed faces pressure to raise interest rates.

The Federal Open Market Committee (FOMC) is set to meet this month, and market expectations suggest that they will increase rates. However, the FOMC's policy-making committee appears boxed in to raising rates, according to a New York Times report.

The report notes that Warsh and his colleagues on the FOMC are under pressure from President Trump, who has been pushing for rate hikes. This is despite some economic indicators suggesting that a rate hike may not be necessary at this time.