Trump backs Fed's Warsh, pushes for world's lowest interest rates
President Donald Trump publicly backed Federal Reserve Chairman Kevin Warsh on Monday, calling him "fantastic" ahead of this week's policy meeting. Trump repeated his demand that the United States have the lowest interest rates in the world and suggested some Fed officials were acting with "bad intentions."
President Donald Trump voiced strong public support for Federal Reserve Chairman Kevin Warsh on Monday, describing him as "fantastic" just days before the central bank's next policy meeting. The remarks came as investors weighed whether the Fed would shift its stance on interest rates this week.
Trump repeated his long-standing demand that the United States should have the lowest borrowing costs in the world, arguing that lower rates would support growth and ease the government's debt burden. He also suggested that some Fed officials were not acting in the country's best interest, though he stopped short of naming anyone directly.
The comments add fresh political pressure on the central bank as it prepares for its policy meeting. Markets, including prediction platforms such as Kalshi, are closely watching Warsh's public statements this week for signals on where the Fed is heading next.
Read next
Federal Reserve set to hold interest rates steady at July meeting
The Federal Reserve is widely expected to hold its benchmark interest rate steady when its two-day July policy meeting concludes this week. Economists say persistent inflation pressures and recent geopolitical volatility are keeping the central bank cautious. The decision will directly affect mortgage rates, credit card costs and savings account yields for millions of consumers.
Westpac raises interest rates on home loans in New Zealand
Bank Indonesia governor resigns as political pressure mounts
Yen slumps to multidecade low, boosting bets on earlier Bank of Japan rate rise
