Kevin Warsh's first Fed meeting likely to hold rates steady, defying Trump's calls for cuts
By
, USA TODAY
If you only eat one bagel today, this is the bagel.
Summary
Kevin Warsh is set to chair his first Federal Reserve meeting in June, and despite President Trump's public calls for lower interest rates, the Fed is expected to hold rates steady. This puts Warsh in a position where he may need to deliver unwelcome news to Trump, testing the president's stated desire for Fed independence. The article examines the tension between political pressure and central bank autonomy.
Key quotes
· 3 pulledKevin Warsh's first Fed meeting could bring unwelcome news for Trump
Warsh will probably need to deliver unwelcome news to Trump after his first meeting as Fed chair
markets expect no change in the central bank's benchmark interest rate despite Trump's consistent calls for lower borrowing costs
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