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Trump: "Warsh, the next Fed chair, could even work at the White House"…pressures for rate cuts
JH Kim
Summary
- U.S. President Donald Trump was reported to have pressured for interest-rate cuts while referring to Kevin Warsh, the nominee for the next Federal Reserve chair.
- Trump was reported to have suggested political influence over the Fed, saying, "If Warsh becomes Fed chair, he could even work at the White House."
- Trump said the controversy over the Fed’s independence continues, after asking, "What reason is there not to cut rates right now?" and emphasizing the need for monetary easing.
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According to Walter Bloomberg on the 26th (local time), U.S. President Donald Trump pressured for interest-rate cuts while referring to Kevin Warsh, who has been nominated as the next Federal Reserve chair.
Trump made a joking remark that "if Warsh becomes Fed chair, he could even work at the White House."
He then asked rhetorically, "What reason is there not to cut rates right now?" underscoring the need for monetary easing.
The remarks are seen as an example showing that political pressure for rate cuts persists amid controversy over the Fed’s independence.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
