Following the Federal Reserve's September 16 rate increase, White House adviser Peter Navarro called it "a bad decision" on September 17, while President Trump claimed he told Fed Chair Kevin Warsh to act independently but suggested doubt about Warsh following his directions. Global bond markets calmed after Warsh's inflation-fighting commitment.
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The data suggests Warsh should announce a rate hike this week. But will he dare face the wrath of Donald Trump?
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Warsh under pressure as Fed weighs rate hike Federal Reserve Chair Kevin Warsh finds himself in a tricky position as the central bank commences its September meeting, as rising expectations of an interest rate hike clash...
Federal Reserve Chair Kevin Warsh finds himself in a tricky position as the central bank commences its September meeting, as rising expectations of an interest rate hike clash with President Trump’s demands for cuts. Warsh gave himself wiggle room for a rate hike in late August, saying the central bank had “work to do” if underlying inflation was not moving toward its 2 percent target. But Trump,
Chair Kevin Warsh announced the first Federal Reserve interest rate hike in three years.
Please note he didn't call the new Fed chair "numbskull," "knucklehead," "jerk," and "incompetent or crooked," all of which he used to describe Jerome Powell. Surprising restraint by Trump. It won't last long. ALT: Kevin Warsh Fed
The Federal Reserve raised interest rates by a quarter of a point, the first hike in three years. It comes as the war in Iran continues to put pressure on prices and is the first major move by Fed Chair Kevin Warsh to combat elevated inflation. Geoff Bennett discussed more with economist Julia Coronado of MacroPolicy Perspectives.
White House adviser Peter Navarro on Wednesday blasted the Federal Reserve's move to raise interest rates in several years, calling it "a bad decision." The central bank’s Federal Open Market Committee (FOMC), led by Fed Chair Kevin Warsh, voted unanimously to increase the central bank’s benchmark interest rate to a range of 3.75 percent to 4 percent. Warsh...
The president also suggested that he doesn’t expect Kevin Warsh to follow his directions, saying he wanted the Fed “to be independent.”
Global bond yields retreated Thursday, calming a pressured market after the Federal Reserve’s rate hike and Chairman Kevin Warsh’s vow to tame inflation, while traders awaited Friday’s Bank of Japan decision.