Trump Says Fed Chair Kevin Warsh Should Have Voted Against Rate Hike
Trump said the unanimous quarter-point increase was politically motivated and said he still trusts Warsh to lead the Fed.
- President Donald Trump told Time magazine on Thursday that Federal Reserve Chair Kevin Warsh should have voted against the recent interest rate hike, though Trump said he retains confidence in Warsh.
- The Federal Open Market Committee raised rates by 25 basis points on September 16, marking the first increase in three years, as officials cited inflation remaining stubbornly above the Fed's 2% goal.
- Trump described the Federal Reserve as "very hostile" and "very political," claiming the board is stacked with appointees from previous administrations and that Warsh is controlled by "Obama and Biden picks."
- The Senate confirmed Warsh 54-45 earlier this year, though only three of the twelve FOMC members were nominated by Trump, requiring him to work with officials appointed by previous administrations.
- Elevated oil prices have pushed the 10-year Treasury yield above 5.2% as investors anticipate higher rates, complicating Fed policy as rising energy costs continue to fuel inflation concerns.
14 Articles
14 Articles
Donald Trump returns to attack the Federal Reserve on the rise of interest rates but refrains from criticizing directly President Kevin Warsh that he himself chose. "I want him to vote as he prefers. (ANSA)
U.S. President Meddles Again in the Independence of the Federal Reserve · Global Voices
U.S. President Donald Trump said that the leader of the Federal Reserve (Fed, U.S. Central Bank), Kevin Warsh, should have voted against the Fed's high interest rate in September, but said he didn't blame him for the decision. The president again criticized the central bank, claiming that the board is political, and would be acting to harm it. I don't blame Kevin Warsh. I would probably have voted against the board if it were in his place, Trump…
The Fed’s Rate Hike Was Less Significant Than It Looked
Bond Mechanics Before understanding the complex bond market, it is important to understand what a bond actually is. A bond is essentially an IOU from the government or an institution. An investor lends money to the issuer, receives interest payments, and is paid back the principal at maturity. Maturity is when the bond’s principal is repaid. The coupon rate determines its interest payments, while the yield represents the return an investor earns…
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