Trump’s new Fed Chair Kevin Warsh pledges independence while fighting inflation
- New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought.
- In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they'd be disappointed.
- ”The Fed typically combats inflation by raising borrowing costs.
Confirmed
- New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought.
- In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they'd be disappointed.
- ”The Fed typically combats inflation by raising borrowing costs.
Sources: The Independent