'Stay in our lane': Warsh vows Fed independence after hiking rates

Chairman Kevin Warsh drew a bright line between the Federal Reserve and the White House after the central bank raised interest rates in defiance of President Donald Trump.

'Stay in our lane': Warsh vows Fed independence after hiking rates

TL;DR

  • Federal Reserve Chairman Kevin Warsh stated the central bank must 'stay in our lane' to maintain independence.
  • The Fed raised interest rates by 0.25 percentage points, defying President Trump's lobbying for a rate cut.
  • This move signals the Fed's commitment to lowering inflation, which is currently at 3.4%.
  • Unlike his predecessor, Warsh has not faced direct attacks from President Trump regarding the rate decision.
  • President Trump publicly called for lower interest rates following the Fed's announcement.