Trump wants Kevin Warsh to cut rates, markets bet on a hike: Fed chief faces first big test | Explained
New Delhi, Sept. 5 -- Federal Reserve chair Kevin Warsh faces his first major test, caught between President Donald Trump's demand for lower interest rates and growing market expectations that the central bank might need to raise rates later this month.
Trump on Friday resumes his pressure tactics on the US central bank, calling on the Fed to lower rates following a stronger-than-expected jobs report.
"Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago!" Trump said in a social media post. "The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change."
Trump's intervention adds a political dimension to a Fed policy decision that officials have been closely tying...
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