Opinion: Trump picked Kevin Warsh to cut rates. The new Fed chief just told us he has other plans.

Live updates

1. 8d ago

   Fed Chair Warsh resists Trump pressure on interest rates

   Federal Reserve Chair Kevin Warsh is under pressure to hike interest rates to combat inflation, despite President Trump's desire for rate cuts. Warsh has maintained the Fed's independence since taking office on 22 May 2026. The Fed is expected to keep interest rates unchanged at its upcoming meeting. Warsh's stance may provoke Trump's ire.

   What's confirmed:

   • Kevin Warsh took office as Federal Reserve Chair on 22 May 2026.
   • The Federal Reserve is expected to keep its key interest rate unchanged at its upcoming meeting.
   • Warsh faces pressure to hike rates to combat inflation.
   • The Federal Reserve refuses to cut interest rates under Kevin Warsh.

   Still unconfirmed:

   • A rate hike could provoke ire from President Trump.
   Sources used for this update (2)

   1. Will tough talk be enough? Fed Chair Warsh faces pressure to combat inflation
   2. Trump’s New Fed Chair Deserts Trump
   confidence 90%
2. 35d ago

   Fed Chair Kevin Warsh Resists Trump's Demands for Rate Cuts

   Federal Reserve Chair Kevin Warsh has not provided the interest rate cuts President Trump desires. Warsh took office on 22 May 2026. He is maintaining independence despite Trump's public pressure.

   What's confirmed:

   • Kevin Warsh was sworn in as Federal Reserve Chairman on 22 May 2026.
   • President Trump has consistently called for interest rate cuts.
   • Kevin Warsh served on the Federal Reserve Board of Governors from 2006 to 2011.
   • President George W. Bush appointed Warsh as the youngest-ever nominee at age 35.

   Still unconfirmed:

   • Esther George suggests Warsh may be forced to raise interest rates.
   • Trump's desire for lower rates has vanished because of two of his own decisions.
   Sources used for this update (6)

   1. A former Fed colleague of Kevin Warsh on what to expect ... - Fortune
   2. Trump's new Fed Chair Kevin Warsh pledges independence while fighting ...
   3. President Donald Trump Just Took a Jab at His Handpicked Fed Chair ...
   4. Kevin Warsh's First Fed Meetings Are Handing Trump the One Answer He ...
   5. Fed Chair Contender Now in Favour of Cutting Rates, Just as Trump Wants
   6. Strait of Hormuz, bond market route threaten Trump plan
   confidence 90%
3. 40d ago

   Trump Advisors Grant Fed Chair Kevin Warsh Space on Rates

   Federal Reserve Chair Kevin Warsh signaled a major policy shift. President Trump continues to call for interest rate cuts. However, Trump's economic advisors are giving Warsh space regarding rate decisions as inflation exceeds 4%.

   What's confirmed:

   • President Trump continues to call for interest rate cuts.
   • Inflation has topped 4%.

   Still unconfirmed:

   • Kevin Warsh signaled a major policy shift.
   • Trump described Warsh's actions by saying, "It's Hard to Believe."
   Sources used for this update (3)

   1. Weekly Commentary: The Treasury Secretary And The Maestro
   2. Trump eases pressure on Fed Chairman Kevin Warsh as inflation tops 4%
   3. With Just 6 Words, Fed Chair Kevin Warsh Demolished Expectations. "It's Hard to Believe," Says President Trump.
   confidence 80%
4. 44d ago

   Fed Chair Kevin Warsh Initiates Institutional Overhaul

   New Federal Reserve Chair Kevin Warsh maintained current interest rates during his first meeting. He has established task forces to rethink the central bank's operations. This approach contrasts with President Trump's preference for rate cuts.

   What's confirmed:

   • Kevin Warsh kept interest rates unchanged at his first Fed meeting.
   • Warsh is creating task forces to rethink how the Fed operates.

   Still unconfirmed:

   • Warsh has assumed the role of an inflation hawk.
   • Inflation remains elevated.
   Sources used for this update (5)

   1. How Kevin Warsh has set out to remake the Fed - CNBC
   2. Fed got a new chair. The changes you'll feel and those you might miss
   3. Warsh Remakes the Fed as Inflation Runs Hot
   4. Who Is the Real Kevin Warsh?
   5. Fed Chair Kevin Warsh Just Subtly Threw President Donald Trump and ...
   confidence 90%
5. 46d ago

   Kevin Warsh Maintains Interest Rates in First Fed Meeting

   New Federal Reserve Chair Kevin Warsh kept interest rates unchanged during his first meeting. This decision contradicts President Trump's desire for rate cuts. Markets are currently reacting to the news with mixed Treasury yields and a rising dollar.

   What's confirmed:

   • Kevin Warsh is the new chairman of the Federal Reserve.
   • The Federal Reserve kept interest rates unchanged during Kevin Warsh's first meeting.
   • Interest rates have remained at the same level since December.
   • President Trump wants the Federal Reserve to cut interest rates.

   Still unconfirmed:

   • Inflation is at a three-year high.
   • Hiring is currently strong.
   • The U.S. dollar rose to a one-year high due to prospects of higher interest rates.
   Sources used for this update (10)

   1. The Fed leaves interest rates unchanged in Kevin Warsh’s first meeting as chair
   2. There’s a new sheriff in town at the Fed. Markets are still learning his rules
   3. Treasury yields mixed as investors digest Warsh's first Fed meet
   4. Kevin Warsh spent a year calling for rate cuts. Now he'll have to ...
   5. Dollar Rises to One-Year High on Increased Prospects of Higher U.S. Interest Rates
   6. Opinion: Trump picked Kevin Warsh to cut rates. The new Fed chief just told us he has other plans.
   7. Charting the Global Economy: Warsh’s Tenure at the Fed Begins
   8. Trump Picked Warsh for Rate Cuts, US Markets Got the Opposite
   9. Kevin Warsh, The Fed, And The Soft Bigotry Of Low Expectations
   10. Who will run the Federal Reserve if the Senate doesn't confirm Trump's pick?
   confidence 90%