Trump downplays talks with Warsh amid Fed independence doubts
He hinted at his long-running desire to see the Fed lower interest rates
Add BT as a preferred source
PRESIDENT Donald Trump played down the frequency and length of his conversations with Federal Reserve Chairman Kevin Warsh, which raised fresh questions about whether he was seeking to directly influence the central bank.
Trump insisted on Monday that he had spoken to Warsh only once “briefly” since joining the Fed, despite one of his own top economic advisers and people familiar saying the talks have occurred more often.
“I’ve only spoken to him one time briefly a few days ago, just a conversation,” Trump told reporters. “They made it sound like I live and breathe, you know, I speak to Kevin all the time, every time.”
Trump and Warsh have spoken multiple times since the latter was confirmed in May, with the president inquiring about the Fed leader’s forecasts and opinions, Bloomberg previously reported.
National Economic Council Director Kevin Hassett said last week the pair discuss the economy “all the time”, though other people describe the calls as irregular and infrequent.
The president hinted at his long-running desire to see the Fed lower interest rates, but said he is behind Warsh “100 per cent” and chalked up decisions around the central bank’s policy making to the institution’s board.
“Look, he’s going to do it. He’s going to run it. I know what he’d like to do, but he has to run it. He’s got a board. It’s not only him. It was up to him. It would be different. But he’s got a board,” the president said. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
