US President Donald Trump confirmed he held a brief conversation with Federal Reserve Chair Kevin Warsh. Speaking to reporters at the White House, the US leader described the exchange as a one-off discussion and emphasized that while Warsh leads the central bank, he must coordinate key decisions with the Board of Governors. If policy were solely up to the Fed chair, the president suggested, the central bank's stance would look different.
Meanwhile, administration officials are openly expressing surprise that interest rates remain elevated under the new Fed leadership. National Economic Council Director Kevin Hassett said Trump regularly questions why the United States still has one of the highest borrowing costs in the world. The White House stressed that the president continues to expect a swift move toward lower interest rates.
Notably, Trump had systematically criticized former Fed Chair Jerome Powell for delaying monetary easing. When appointing Warsh in late May, the president announced a broad overhaul of the Fed while insisting on preserving the institution's independence in decision-making.
