politics
Trump says he spoke recently to Fed Chairman Warsh, denies regular calls
The president said he had recently been in touch with the Fed chairman, but denied regular contact amid concerns about central bank independence.
TL;DR
- President Trump confirmed speaking "one time, briefly" with Federal Reserve Chairman Kevin Warsh.
- Trump denied a Wall Street Journal report suggesting he and Warsh had spoken repeatedly.
- The conversation occurred amid concerns about President Trump's pressure on the Fed's independence.
- Trump has previously expressed desire for lower interest rates but acknowledged the Fed's independent board.
- Direct contact between presidents and the Fed has been rare in recent years.
- Congress granted the Fed independent authority over interest rates to avoid political considerations.
- Fed Chairman Warsh has stated he is open to discussion but will make his own decisions on rates.