Trump: The new head of the Federal Reserve understands the need to lower interest rates
The American President said Donald Trump He would not have chosen Kevin Warsh is new president For the Federal Reserve if it was not in line with lowering interest rates.
He added Trump in an interview with the network "NBC News"Warsh understands his desire to lower interest rates, adding "But I think he wants it anyway"
The US President indicated that Warsh would not have been selected for this position if he had sought to raise Interest rates.
Trump has repeatedly expressed his preference for lowering interest rates, criticizing current Federal Reserve Chairman Jerome Powell for not doing so more effectively.
In his interview, Trump described current interest rates as "Too high"
Rate cuts 3 times
The Federal Reserve cut interest rates 3 times last year, but refrained from doing so last January, as monetary policymakers sought to balance inflation risks with labor market concerns.
Warsh may face difficulty in the Senate approval process, amid growing concerns about the Federal Reserve’s independence from political pressures.
Republican Senator Thom Tillis, a member of the Senate Banking Committee, pledged to oppose the approval of Federal Reserve Board nominees, Including the next president, until the end of the Justice Department’s investigation into Powell.
Trump’s ongoing attempt to remove Lisa Cook, a member of the Federal Reserve Board of Governors, and investigate Powell over the costs of renovating the central bank’s headquarters, has raised concerns about the institution’s independence from politics.
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