Trump Allies Renew Push to Reshape Federal Reserve After Supreme Court Blocks Lisa Cook
President Donald Trump and his allies are renewing efforts to reshape the Federal Reserve leadership after the Supreme Court blocked the administration's attempt to remove Governor Lisa Cook. During a press conference, Trump said the White House could still oust Cook by winning the case. He also suggested that the central bank's board has grown resistant to new Federal Reserve Chair Kevin Warsh's monetary policy directions, stating Warsh may struggle to compel his colleagues to align with his stance on interest rates.
White House National Economic Council Director Kevin Hassett joined the criticism, calling Federal Reserve Chair Jerome Powell's continued tenure at the US central bank unorthodox and questioning his motives. Hassett noted that Powell's presence prevents the administration from appointing another board member, intensifying the White House's push for leadership changes. Meanwhile, Warsh has sought to stabilize market expectations, recently vowing that the Fed will remain independent and stay committed to its 2% inflation target regardless of political pressure.
From the sources (25 posts)
@firstsquawkFED'S WARSH: NOT GOING TO GIVE FORWARD GUIDANC
@financialjuiceFed's Chair Warsh: Not going to give forward guidance
@zerohedge*WARSH DECLINES TO OFFER GUIDANCE ON INTEREST RATES you mean he wasnt kidding when he said forward guidance is over?
@financialjuiceFed's Chair Warsh: The US not afraid of productivity-led economic growth.
@financialjuiceFed's Chair Warsh: We have to deliver both on employment and stable prices
@businessFederal Reserve Chairman Kevin Warsh repeated that he isn’t going to offer “forward guidance” with regard to upcoming interest-rate policy, marking a step-change at the US central bank
@firstsquawkWARSH SAYS HAVE TO DELIVER BOTH ON EMPLOYMENT AND STABLE PRICES
@financialjuiceFed's Chair Warsh: Labor markets are steady.
@financialjuiceFed's Chair Warsh: Supply side solid.
@deitaoneFED'S WARSH: WE'VE LOOKED AROUND AND SEE THAT PRICES ARE TOO HIGH
@financialjuiceFed's Chair Warsh: We're in the price stability business.
@firstsquawkWARSH: WE'RE IN THE PRICE STABILITY BUSINESS
@financialjuiceFed's Chair Warsh: We've looked around and see that prices are too high.
@firstsquawkWARSH: WE'VE LOOKED AROUND AND SEE THAT PRICES ARE TOO HIGH
@deitaoneFED'S WARSH: EXPECTATIONS OF INFLATION OVER THE FIRST FOUR WEEKS HAVE COME DOWN
@deitaoneFED'S WARSH: INFLATION RISKS HAVE COME DOWN
@financialjuiceFed's Warsh: Expectations of inflation over the first four weeks have come down.
@financialjuiceFed's Warsh: Inflation risks have come down.
@deitaoneFED'S WARSH: IF ANYONE THOUGHT WE'D BE HAPPY WITH INFLATION ABOVE 2%, THEY WILL BE DISAPPOINTED
@financialjuiceFed's Warsh: If anyone thought we'd be happy with inflation above 2%, they will be disappointed.
@financialjuiceFed's Chair Warsh: Tactics and strategy for price stability still to come.
@financialjuiceFed's Chair Warsh: The most important thing we can do is get policy right
@deitaoneFED'S WARSH: VOLATILITY IS DOWN, YIELDS ARE DOWN
@firstsquawkFED'S WARSH: EXPECTATIONS OF INFLATION OVER THE FIRST FOUR WEEKS HAVE COME DOWN || INFLATION RISKS HAVE COME DOWN|| IF ANYONE THOUGHT WE'D BE HAPPY WITH INFLATION ABOVE 2%, THEY WILL BE DISAPPOINTED || WE'LL BE AN INDEPENDENT CENTRAL BANK |
@financialjuiceFed's Chair Warsh: The Fed stands for staying in its lane on monetary policy.