{"id":2627937,"date":"2026-07-10T10:29:55","date_gmt":"2026-07-10T14:29:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-says-he-will-defer-to-warsh-on-rate-hike-before-midterm-elections\/"},"modified":"2026-07-10T10:30:43","modified_gmt":"2026-07-10T14:30:43","slug":"trump-says-he-will-defer-to-warsh-on-rate-hike-before-midterm-elections","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-says-he-will-defer-to-warsh-on-rate-hike-before-midterm-elections\/","title":{"rendered":"Trump says he will defer to Warsh on rate hike before midterm elections"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-says-he-will-defer-to-warsh-on-rate-hike-before-midterm-elections%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2627937&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Donald Trump stated he would defer to Federal Reserve Chairman Kevin Warsh regarding <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/good-news-is-bad-news-as-markets-react-to-strong-jobs-report\/\" title=\"Markets react negatively to strong jobs report\">potential interest rate hikes<\/a> before the upcoming midterm elections. Although market indicators show about a 70% chance of a rate increase prior to November, Trump emphasized he would support Warsh\u2019s judgment over his own views, which <a href=\"https:\/\/amzn.to\/3YuVZYV\" >previously favored rate reductions<\/a> to aid consumers. Trump also expressed confidence in Warsh\u2019s independence in managing monetary policy, highlighting his intention to let the Fed operate without White House interference. The shift in outlook marks a change from earlier criticisms of Federal Reserve Chairman Jerome Powell, whom Trump replaced, mainly due to Powell&#8217;s reluctance to lower interest rates amid current inflation pressures worsened by energy prices linked to Iran tensions. As of now, despite Trump\u2019s preference for lower rates, market expectations lean towards rate hikes by the Fed before the midterms.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\"><strong>EXCLUSIVE <\/strong>\u2014<strong> <\/strong>President <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" type=\"post_tag\" id=\"4\">Donald Trump<\/a> said he will defer to Federal Reserve Chairman <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-warsh\/\" type=\"post_tag\" id=\"20643\">Kevin Warsh<\/a> on the possibility of the central bank raising <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\/\" type=\"post_tag\" id=\"727\">interest rates<\/a> before the midterm elections.<\/p>\n<p class=\"wp-block-paragraph\">The <em>Washington Examiner<\/em> spoke with the president by phone Friday morning and pointed out that markets are pricing in about a 70% chance that the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\/\">Fed<\/a> will raise interest rates before the November elections.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4640620\/wes-moore-trump-accounts-good-idea-give-credit\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Gov. Wes Moore says Trump Accounts are a \u2018good idea,\u2019 giving him \u2018credit\u2019<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4640376\/bessent-harriet-tubman-20-dollar-bill\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Trump administration axes plan to put Harriet Tubman on $20 bill: Bessent<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4639752\/investors-think-fed-chairman-warsh-hike-rates-midterms\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Investors now think Kevin Warsh will hike rates before midterm elections<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">\u201cThere should be a reduction, but I\u2019ll go with the chairman,\u201d Trump said.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-1\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-1\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-15\" data-wex-ad=\"art-dsk-inart-1\"><\/div>\n<\/div>\n<\/div>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4639752\/investors-think-fed-chairman-warsh-hike-rates-midterms\/\"><strong>INVESTORS NOW THINK KEVIN WARSH WILL HIKE RATES BEFORE MIDTERM ELECTIONS<\/strong><\/a><\/p>\n<p class=\"wp-block-paragraph\">That marks a shift from Trump\u2019s stance just months ago, when Jerome Powell was the central bank\u2019s chairman.<\/p>\n<p class=\"wp-block-paragraph\">Trump repeatedly assailed Powell for refusing to cut interest rates and ultimately replaced him with Warsh, who is now staring down 4.2% inflation, much of which has been caused by a recent spike in energy prices resulting from the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/iran\/\" type=\"post_tag\" id=\"100\">Iran<\/a> war.<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-2\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-2\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-16\" data-wex-ad=\"art-dsk-inart-2\"><\/div>\n<\/div>\n<\/div>\n<div class=\"infogram-embed\" data-id=\"4093f128-b217-4436-bdee-50ca9d3f3e04\" data-type=\"interactive\" data-title=\"May 2026 cpi for homepage\"><\/div>\n<p><script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(e,n,i,s){var d=\"InfogramEmbeds\";var o=e.getElementsByTagName(n)[0];if(window[d]&&window[d].initialized)window[d].process&&window[d].process();else if(!e.getElementById(i)){var r=e.createElement(n);r.async=1,r.id=i,r.src=s,o.parentNode.insertBefore(r,o)}}(document,\"script\",\"infogram-async\",\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\");<\/script>    <\/p>\n<p class=\"wp-block-paragraph\">Trump repeatedly and harshly criticized Powell, over the course of months, for declining to lower interest rates. Trump said the Fed needed to lower rates to make it easier for families to take out <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/mortgages\/\" type=\"post_tag\" id=\"2040\">mortgages<\/a> or auto loans. In selecting a new Fed chair, Trump made it clear he wanted someone who would be more eager to lower rates.<\/p>\n<p class=\"wp-block-paragraph\">But he has so far given Warsh the latitude to conduct monetary policy as he sees fit. Trump backed off the hard line on interest rate reductions <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4574201\/trump-kevin-warsh-do-what-he-wants-fed-interest-rates\/\">during another interview<\/a> with the <em>Washington Examiner<\/em> just before Warsh entered office.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI\u2019m going to let him do what he wants to do,\u201d Trump said in May, in response to a question about Warsh and market expectations for a rate hike. \u201cHe\u2019s a very talented guy, he\u2019s going to be fine, he\u2019s going to do a good job.\u201d<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-3\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-3\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-17\" data-wex-ad=\"art-dsk-inart-3\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Also, during Warsh\u2019s swearing-in ceremony, Trump further vowed to let the new chairman handle the Fed free of White House influence.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI really mean this, I want Kevin to be totally independent,\u201d Trump said. \u201cDon\u2019t look at me, don\u2019t look at anybody, just do your own thing and do a great job, OK.\u201d<\/p>\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4641106\/trump-sign-housing-bill-protest-save-america\/\"><strong>TRUMP WON\u2019T SIGN BIPARTISAN HOUSING BILL IN \u2018PROTEST\u2019 OVER SAVE AMERICA ACT<\/strong><\/a><\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-4\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-4\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-25\" data-wex-ad=\"art-dsk-inart-4\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Warsh, 56, assumed the chairmanship at a difficult moment for the central bank. Inflation is still far too high, but the labor market is strong. The combination has made it increasingly likely that the Fed will raise rates \u2014 despite Trump\u2019s stated desire for a rate cut.<\/p>\n<p class=\"wp-block-paragraph\">As of Friday morning, the implied odds of a rate increase by the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/2026-election\/\" type=\"post_tag\" id=\"11675\">midterm elections<\/a> are 70%, according to CME Group\u2019s FedWatch tool, which calculates the probability of rate changes using futures contract prices for rates in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/powell-set-to-testify-before-congress-heres-what-to-expect\/\" title=\"Powell set to testify before Congress \u2014 here&#039;s what to expect\">short-term market targeted<\/a> by the Fed.<\/p>\n<\/div>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-5\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-5\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-26\" data-wex-ad=\"art-dsk-inart-5\"><\/div>\n<\/div>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump defers to Warsh on rate hikes before midterms<\/p>\n","protected":false},"author":3360,"featured_media":2627938,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/07\/AP26190188387479.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[82532,3634,73552],"class_list":["post-2627937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-rate-hike-2","tag-trump","tag-warsh"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/07\/AP26190188387479.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2627937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3360"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2627937"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2627937\/revisions"}],"predecessor-version":[{"id":2627941,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2627937\/revisions\/2627941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2627938"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2627937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2627937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2627937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}