US EditionTrump Says He Nominated Fed Chair in Hope of Rate Cuts
Trump nominated Kevin Warsh to lead the Federal Reserve, expecting interest rate cuts to support economic growth and ease financing pressures amid $30 trillion government debt.
- Recently, Donald Trump said he nominated Kevin Warsh for Fed chair because of the prospect of rate cuts and stated `I think he does, but I think he wants to anyway` about Warsh's stance.
- Trump wants lower interest rates because he finds the benchmark US interest rate level of 3.5 to 3.75 per cent too high, and said, `I think he does, but I think he wants to anyway` about Kevin Warsh's stance.
- The FOMC votes on policy, with seven governors and five regional bank presidents, not the chair alone, shaping rate decisions, as the committee is a 12-member body.
- The US Senate must confirm Trump's Fed chair nominee, while critics warn of risks to independence; Powell's term ends in May.
- Institutional voting rules affect how expectations translate into policy, with the regional Federal Reserve bank presidents rotating and the New York Fed president being a permanent FOMC member, shaping voting outcomes.
16 Articles
16 Articles
U.S. President Donald Trump said in an interview broadcast this Wednesday, February 4, that his chosen to be the next head of the Federal Reserve (Fed, central bank), Kevin Warsh, understands the need to reduce interest rates. Trump told NBC News that Warsh “wants” to lower the rates, adding that the former Fed governor would not have been running for office if he had said he was looking to raise them. The president insists on the need to lower …
Trump said he believes Kevin Worth, his pick to be the next Fed chief, understands his desire for lower interest rates.
According to the American president, the future leader would not have been chosen for the position if he did not share the same opinion as him.
Trump Says 'Not Much' Doubt Interest Rates Will Be Lowered, in NBC Interview
President Donald Trump said on Wednesday there was “not much” doubt in his mind that benchmark U.S. interest rates will be lowered by the Federal Reserve. Trump said in an interview with NBC News he believes his choice to lead the Fed, Kevin Warsh, understands the U.S. president’s preference for lower rates. Asked if Warsh understood that Trump wanted him to lower interest rates, Trump said: “I think he does, but I think he wants to anyway.” He …
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