‘Stay in our lane’: Warsh vows Fed independence after hiking rates
Kevin Warsh, Chairman of the Federal Reserve, emphasized the independence of the Federal Reserve from the White House, especially after the Fed raised interest rates despite President donald Trump’s calls for a rate cut. During a press conference in Washington, Warsh was asked whether the rate hike, which went against presidential lobbying, was a test of the Fed’s independence, though he did not disclose any details of his conversations with the President.
Chairman Kevin Warsh drew a bright line between the Federal Reserve and the White House after the central bank raised interest rates in defiance of President Donald Trump.
Warsh, speaking at a press conference in Washington on Wednesday after the rate decision, was asked by the Washington Examiner about whether the decision to proceed with raising rates despite Trump’s lobbying for a rate cut could be seen as a test of the Fed’s independence. Warsh didn’t provide any details about conversations he had with the president.
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