President Trump on Wednesday responded to the Federal Reserve’s decision to keep interest rates unchanged, blaming the “political” Board of Governors and defending Fed Chair Kevin Warsh. Warsh, he said, is “a brilliant guy” and would “love to see lower interest rates.”
Ahead of the decision, on Monday, Trump told reporters on Air Force One, “Rates should be lowered,” noting that “this country could be at 8%, 9%, 10%, 12%, GDP.” “Kevin’s fantastic, but he’s got a board, and the board members are very political, I would say,” Trump said. “He’s got a board, and he wants to do the right thing. I know what he wants to do, but you need the consent of some people that have perhaps bad intentions.”
