Politics

/

ArcaMax

Trump says Warsh would've lost Fed if he pledged rate hike

Josh Wingrove and Hadriana Lowenkron, Bloomberg News on

Published in Political News

WASHINGTON — President Donald Trump said he would have passed on Kevin Warsh as his nominee to lead the Federal Reserve if Warsh had expressed a desire to hike interest rates.

“If he came in and said, ‘I want to raise it,’ he would not have gotten the job, no,” Trump said Wednesday in an NBC News interview.

The president said there was “not much” doubt the Fed would lower rates because “we’re way high in interest” but now “we’re a rich country again.”

Asked if Warsh understands Trump wants him to lower the benchmark rate, the president responded, “I think he does, but I think he wants to anyway.”

Trump’s comments could come up during Warsh’s confirmation process, where the Fed’s independence will likely be a central topic. Trump said he believed “in theory” that the central bank was an independent body, while saying he was a “smart guy” whose economic predictions should be considered.

Republican Senator Thom Tillis, a member of the Banking Committee, has pledged to block any of Trump’s nominees to the institution until the Justice Department ends an investigation into the central bank’s renovation.

 

Outgoing Chair Jerome Powell has called the probe a thinly veiled attack on the Fed’s ability to independently decide monetary policy. Trump administration officials have denied that’s the intent, but the president has waged a months-long pressure campaign on Powell to lower rates.

Trump dismissed that threat on Wednesday, saying “a lot of people say a lot of things” and reiterating his criticism over the construction project.

“This guy has spent so much money,” Trump said.

Warsh, a former Fed governor, developed a reputation as an inflation hawk but has recently voiced support for lower rates.

_____


©2026 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

 

Comments

blog comments powered by Disqus

 

Related Channels

The ACLU

ACLU

By The ACLU
Amy Goodman

Amy Goodman

By Amy Goodman
Armstrong Williams

Armstrong Williams

By Armstrong Williams
Austin Bay

Austin Bay

By Austin Bay
Ben Shapiro

Ben Shapiro

By Ben Shapiro
Betsy McCaughey

Betsy McCaughey

By Betsy McCaughey
Bill Press

Bill Press

By Bill Press
Bonnie Jean Feldkamp

Bonnie Jean Feldkamp

By Bonnie Jean Feldkamp
Cal Thomas

Cal Thomas

By Cal Thomas
Clarence Page

Clarence Page

By Clarence Page
Danny Tyree

Danny Tyree

By Danny Tyree
David Harsanyi

David Harsanyi

By David Harsanyi
Debra Saunders

Debra Saunders

By Debra Saunders
Dennis Prager

Dennis Prager

By Dennis Prager
Dick Polman

Dick Polman

By Dick Polman
Erick Erickson

Erick Erickson

By Erick Erickson
Froma Harrop

Froma Harrop

By Froma Harrop
Jacob Sullum

Jacob Sullum

By Jacob Sullum
Jamie Stiehm

Jamie Stiehm

By Jamie Stiehm
Jeff Robbins

Jeff Robbins

By Jeff Robbins
Jessica Johnson

Jessica Johnson

By Jessica Johnson
Jim Hightower

Jim Hightower

By Jim Hightower
Joe Conason

Joe Conason

By Joe Conason
John Stossel

John Stossel

By John Stossel
Josh Hammer

Josh Hammer

By Josh Hammer
Judge Andrew P. Napolitano

Judge Andrew Napolitano

By Judge Andrew P. Napolitano
Laura Hollis

Laura Hollis

By Laura Hollis
Marc Munroe Dion

Marc Munroe Dion

By Marc Munroe Dion
Michael Barone

Michael Barone

By Michael Barone
Mona Charen

Mona Charen

By Mona Charen
Rachel Marsden

Rachel Marsden

By Rachel Marsden
Rich Lowry

Rich Lowry

By Rich Lowry
Robert B. Reich

Robert B. Reich

By Robert B. Reich
Ruben Navarrett Jr.

Ruben Navarrett Jr

By Ruben Navarrett Jr.
Ruth Marcus

Ruth Marcus

By Ruth Marcus
S.E. Cupp

S.E. Cupp

By S.E. Cupp
Salena Zito

Salena Zito

By Salena Zito
Star Parker

Star Parker

By Star Parker
Stephen Moore

Stephen Moore

By Stephen Moore
Susan Estrich

Susan Estrich

By Susan Estrich
Ted Rall

Ted Rall

By Ted Rall
Terence P. Jeffrey

Terence P. Jeffrey

By Terence P. Jeffrey
Tim Graham

Tim Graham

By Tim Graham
Tom Purcell

Tom Purcell

By Tom Purcell
Veronique de Rugy

Veronique de Rugy

By Veronique de Rugy
Victor Joecks

Victor Joecks

By Victor Joecks
Wayne Allyn Root

Wayne Allyn Root

By Wayne Allyn Root

Comics

RJ Matson Chris Britt Jeff Koterba Dave Whamond Ed Gamble Al Goodwyn