Summary
- President Donald Trump said Kevin Warsh, the next Fed chair, understands a rate-cutting stance.
- Trump said, "If he had said he wanted to raise rates, he wouldn’t have gotten the job."
- The remarks are drawing market attention amid controversy over the next Fed chair’s monetary policy stance.
US President Donald Trump said Kevin Warsh—his pick to lead the Federal Reserve (Fed)—understands his preference for a rate-cutting stance.
According to Walter Bloomberg, a breaking-news account, Trump said in an interview with NBC on the 4th (local time), "I think Warsh understands that I want rate cuts," adding, "If he had said he wanted to raise rates, he wouldn’t have gotten the job."
Trump went on to say regarding the outlook for the benchmark interest rate, "There’s not much doubt that rates will be cut."
Trump has repeatedly criticized the Fed’s high-rate stance and emphasized the need for rate cuts, arguing on multiple occasions that Fed policy is weighing on economic growth.
Warsh, a former Fed governor, was recently nominated by Trump as the next Fed chair. He has previously been viewed as relatively neutral on monetary policy.
The remarks are drawing market attention as political controversy continues over the monetary policy direction of the next Fed chair.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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