Warsh on Collision Course with Trump over Interest Rates

Federal Reserve Chair Kevin Warsh is facing pressure from President Donald Trump over interest rates. The Federal Open Market Committee (FOMC) has a decision to make on Wednesday, and markets are pricing in a 93% chance of a rate hike.

If the FOMC pulls the trigger, it will likely be met with resistance from the White House, which has repeatedly called for lower borrowing costs. Trump even threatened to cut off trade with countries running surpluses against the U.S. if the Fed failed to lower rates.

The market is also keeping an eye on other major central banks, including the Bank of Japan, which is poised to tighten policy this week.