US President Donald Trump publicly said he would like to see rate cuts in the country, but stressed that the final decision at the October meeting will rest with new Federal Reserve Chair Kevin Warsh. Speaking to reporters, the White House chief confirmed his intention for easier monetary policy to stimulate national economic growth. At the same time, Trump noted that he does not mean to put direct pressure on the Federal Open Markets Committee, giving the chairman full freedom to assess macroeconomic risks ahead of the autumn meeting. The statement is worthy of note against the backdrop of Trump’s long‑standing practice of publicly criticizing financial authorities.
Kevin Warsh officially took office as the 17th chair of the Federal Reserve on May 22, 2026, replacing Jerome Powell, whose term ended in mid‑May. Before the appointment, Trump had regularly slammed the Fed’s previous rhetoric and Jerome Powell personally for refusing to lower borrowing costs and for maintaining tight monetary policy amid rising inflationary pressures. The US leader repeatedly accused the regulator of artificially slowing the pace of the economy. Many analysts viewed Warsh’s nomination as an attempt by the White House to reset the central bank’s course. However, during confirmation hearings at the Senate, the new chair firmly pledged to uphold the Fed’s institutional independence from the executive branch and to base decisions solely on hard data rather than political requests from the administration.