All posts tagged "Kevin Warsh"

President Donald Trump's renewed push against a Federal Reserve official has dropped his own hand-picked central bank chief into an awkward position.

Trump's new effort to remove Fed Gov. Lisa Cook puts Fed Chair Kevin Warsh on the hook to defend the institution's independence from the president who installed him, Politico reported Friday.

Trump, whom the Supreme Court previously blocked from ousting Cook over due process concerns, announced Friday that he has formed a panel of administration officials to review her statements on home loans, which he and his allies have claimed amount to mortgage fraud. He has demanded she appear at a White House hearing next month to answer the allegations....

President Donald Trump is flashing ominous signs that he is gearing up to turn on the Federal Reserve chair he handpicked, an economic analyst warned.

In a Saturday analysis for The Guardian, economics writer Eduardo Porter credited the Federal Reserve under Chairman Kevin Warsh with having "acquitted itself well" through a week of pressure from the White House, but warned "the signs are ominous" that Trump will "turn on Warsh in the way he did on his predecessor, Jerome 'numbskull' Powell."

Porter tracked the widening rift between the president and Kevin Warsh since Trump elevated him to the job. He noted that Warsh presided this week over a unanimous decision to raise interest rates for the first time in three years, a direct rebuff to a president who has spent months demanding cuts....

Political analyst David Pakman said things "just got really awkward" for President Donald Trump after his hand-picked Federal Reserve chairman voted to raise interest rates.

In a Thursday episode of "The David Pakman Show," Pakman argued the rate hike laid bare an alarming "contrast" between Trump and Federal Reserve Chairman Kevin Warsh.

Pakman explained that Trump hired Warsh specifically to lower rates, but the Fed "unanimously decided" to do the opposite and raise its benchmark by a quarter point....

Federal Reserve Chair Kevin Warsh delivered a much-anticipated policy speech and said almost nothing, which economics columnist Catherine Rampell says was the point.

During a Friday morning speech in Jackson Hole, Wyoming, Warsh warned that inflation remained "still worrisome" and landed a single joke aimed at monetary-policy obsessives. The audience could call his remarks "an outline" or "a framework," he said, "but don't call it forward guidance."

Watching Warsh is "like reading a scroll in a different language that you're not familiar with," journalist Sam Stein said in a Friday episode of Receipts Live. Stein argued that a Fed chair's job is "to never make news."...

Treasury Secretary Scott Bessent drew online scorn after he tried dismissing a damning report as 'backroom gossip.'

On Wednesday, Bessent publicly attacked Wall Street Journal reporter Nick Timiraos because of a report about him pulling the Federal Reserve into President Donald Trump's efforts to prop up the Japanese yen. In a post on X, Bessent slammed Timiraos and his reporting on the Trump-appointed Federal Reserve chairman, Kevin Warsh.

"One of the highlights of the Warsh Fed has been watching stenographers posing as journalists, like the WSJ's Nick Timiraos, reduced to reporting Fed backroom gossip," Bessent wrote. "They're incapable of performing real economic or monetary policy analysis without being spoon-fed."...

The new chairman of the Federal Reserve is already expected to have a tough time following through on one of Trump's main demands, according to the Wall Street Journal.

Trump tapped Kevin Warsh to replace Jerome Powell in January, but the economy back then looked a lot different, the Journal noted. What hasn't changed is Trump's expectation for lower interest rates, even bringing it up on Friday.

However, recent job reports and inflation are causing economists who pushed for interest rate hikes to move in a more cautious direction and to keep rates steady, per the Journal....