Kevin Warsh was fated to disappoint either the bond market or President Donald Trump, who has frequently and vociferously demanded lower interest rates. And disappoint Trump he did.
“Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR,” the president wrote on Truth Social on Wednesday afternoon, following the Federal Reserve’s decision to raise rates.
Trump concluded his social media post: “LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!”
Speaking with reporters later, Trump attacked Federal Reserve policymakers other than Warsh. He called them "very hostile" and "very political," claiming he had spoken with the Fed chairman prior to the rate decision.
“I talke...