Between Trump and a hard place: Fed chair Warsh to lead first rate meeting
U.S. Federal Reserve chief Kevin Warsh will chair his first meeting of the central bank’s rate-setting committee this week caught between a rock and a hard place.
Inflation is at a three-year high but Warsh still faces unrelenting pressure from the White House to lower interest rates.
The bank’s 12-member Federal Open Market Committee (FOMC) will begin a two-day meeting tomorrow and is widely expected to hold rates steady as the effects of U.S. President Donald Trump’s war on Iran course through the world’s largest economy.
Warsh, who was picked by Trump, was sworn in last month and has an ambitious and wide-ranging reform agenda.
