The economic backdrop that Kevin M. Warsh inherits as chair of the Federal Reserve does not call for the interest rate cuts that President Trump wants.

‘The fatal policy error going back four or five years is still a legacy that we’re dealing with,’ Fed Chair Kevin Warsh stated.

Incoming Federal Reserve chair Kevin Warsh will be sworn in at the White House on Friday, taking the reins of the US central bank as it faces unprecedented pressure from President…