Trump criticizes Fed rate hike, backs Chairman Kevin Warsh

Trump criticizes the rate decision

President Trump criticized the Federal Reserve board for raising interest rates and said he remains confident in Federal Reserve Chairman Kevin Warsh. His comments separated his objection to the board’s decision from his view of Warsh. Trump placed responsibility for the increase on the Federal Reserve board while continuing to support its chairman.

The rate remarks contained two distinct messages. Trump opposed the board’s move to increase interest rates, but his criticism did not amount to a withdrawal of confidence in Warsh. The president’s statement therefore combined disagreement with a Federal Reserve decision and support for the official serving as chairman.

Trump gives Warsh his backing

Trump’s vote of confidence kept Warsh apart from the criticism directed at the broader board. The president identified the interest-rate increase as the action he opposed and Warsh as the chairman in whom he retained confidence. That distinction defined Trump’s public position in these remarks.

Trump’s comments treated the board and its chairman differently: The board was the target of his criticism over rates, while Warsh received his backing.

Kennedy Center renovations

Trump also said his administration should be recognized for its work on the Kennedy Center. The Kennedy Center is closed for renovations, and Trump tied the administration’s role in that work to his request for recognition. His comment focused on the administration’s work at the center during the closure and was separate from his Federal Reserve remarks.