Trump Wants ‘Independent' Fed Under Warsh After Months of Pressuring Rates

President Donald Trump on Friday said he wants the Federal Reserve to operate independently under new Chair Kevin Warsh, despite months of publicly pressuring the central bank to cut interest rates.

"I really mean this. This is not said in any other way," Trump said. "I want Kevin to be totally independent. I want him to be independent and just do a great job."

"Don't look at me, don't look at anybody. Just do your own thing and do a great job, OK?" he added.

The comments come as Warsh was sworn in at the White House and pledged to prioritize price stability and employment, invoking past Fed leadership as a model. Trump's remarks seek to reassure markets and policymakers after repeated criticism of outgoing Chair Jerome Powell raised concerns about political influence over the Fed’s monetary policy.

Warsh, meanwhile, emphasized independence and economic stability as core to the Fed's mission.

Who Is Kevin Warsh?

Warsh, 56, served as a Federal Reserve governor from 2006 to 2011, where he became known for his skepticism of the Fed's emergency bond‑buying programs during the financial crisis, according to Federal Reserve History.

Before joining the central bank, he worked at Morgan Stanley and later served as a White House economic adviser under President George W. Bush.

Since leaving the Fed, he has been a frequent commentator on monetary policy, arguing that the central bank should move more decisively to curb inflation and reduce its balance sheet.

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This story was originally published May 22, 2026 at 1:16 PM.