Trump Pressures Fed: Warsh Should Have Voted Against Rate Hike, Problem Lies with "Hostile" Committee

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Yesterday

U.S. President Donald Trump said that Federal Reserve Chairman Kevin Warsh should have voted against last month's rate hike decision, but he also said he does not blame Warsh for the central bank's decision.

"I don't blame Kevin Warsh. If I were him, I probably would have voted against the committee," Trump said in an interview.

Trump has long pressured the Fed to lower borrowing costs, but the Fed resisted his pressure last month, voting to raise rates by 25 basis points and projecting one more hike later this year, measures aimed at curbing inflation.

The vote was unanimous.

Trump had fiercely criticized Warsh's predecessor, Jerome Powell, for failing to cut rates more aggressively, but he has consistently maintained confidence in the chairman he personally selected, instead directing his criticism at what he described as a politically motivated board.

"This has become very political. I don't blame you, Kevin. I think it's terrible. Unfair," Trump said in the interview.

"We have a hostile committee, and the board says, 'We want to hurt Trump.' They're not doing this for you. They're doing this because they have Trump Derangement Syndrome," he added.

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