Fed Chair Kevin Warsh Has Inherited His Predecessor's Trump Problem, and There's No Easy Fix
No matter what Kevin Warsh and the Federal Open Market Committee (FOMC) do, they won't appease everyone.
Nearly three months after taking office as the Federal Reserve's new chair, Kevin Warsh has inherited a challenge from his predecessor, Jerome Powell: the ongoing criticism from President Donald Trump. Despite the stock market's recent surge to record highs following Warsh's swearing-in, the new Federal Reserve leader is facing difficulties in his early days.
In the year leading up to Powell's departure, he was frequently criticized by President Trump for the Federal Open Market Committee's (FOMC) reluctance to lower interest rates. While the criticism Warsh has received so far is less severe, it is clear that he faces the same political challenges that his predecessor struggled with.
President Trump has repeatedly expressed his dissatisfaction with the FOMC's approach to interest rates.
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