Trump holds calls with Fed Chair Warsh amid push to reshape Fed

President Trump has been regularly calling Federal Reserve Chair Kevin Warsh to discuss the economy and his broader outlook, continuing a pattern of presidential involvement with the central bank that has defined Trump’s approach to monetary policy since Warsh took the helm. Warsh, who was sworn in on May 22, 2026, after Trump replaced Jerome Powell, has walked a tightrope familiar to anyone who’s watched a Fed chair try to maintain independence while a president leans in hard. Trump has publicly called Warsh a “fantastic” and “brilliant guy.” The interest rate tug-of-war Trump has consistently pushed for the lowest possible interest rates, framing cheap borrowing as essential to his pro-growth economic agenda. Warsh’s Fed, however, held rates steady during its June and July 2026 meetings, a decision that reportedly drew mixed reactions from the White House. Trump has publicly insisted he supports Warsh’s independence in decision-making. In practice, those regular phone calls about “the economy and his outlook” suggest the president isn’t exactly keeping his preferences to himself. Warsh, for his part, has been careful not to disclose specifics of these conversations to lawmakers. ...