Nick Timiraos wrote that Donald Trump, despite repeatedly attacking the Federal Reserve for keeping interest rates too high, said he had signaled approval of this week’s rate decision during a call with Federal Reserve Chair Warsh a few days before the move. According to people familiar with the matter, the conversation between Trump and Warsh came as a surprise to many of the president’s close advisers. Timiraos said the temporary truce suggested Warsh had, for now, eased tensions that had previously defined the White House’s view of the Fed as an adversary. That calm may not last long. A senior government official said that if the Federal Reserve raises rates again in October, on the eve of the midterm elections, Warsh could find himself facing tougher scrutiny from Trump and his advisers.
BlockBeats reported on Sept. 18 that Nick Timiraos, often referred to as a key Fed watcher, wrote that Donald Trump had long criticized the Federal Reserve for keeping rates too high. But after the Fed raised rates this week, Trump said he had already expressed support for the decision during a call with Federal Reserve Chair Warsh a few days before it was made.
According to people familiar with the matter, the call between Trump and Warsh surprised many of the president’s close advisers. The episode pointed to a temporary truce, with Warsh for the time being easing tensions after the White House had earlier treated the Fed as an opponent.
Still, that arrangement may last only until the next rate move. A senior government official said that if the Federal Reserve decides to raise rates again in October, just ahead of the midterm elections, Warsh could become the subject of tougher scrutiny from Trump and his advisers.
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