Arabic version: ترامب يدعم وارش بينما يطالب بخفض حاد لأسعار الفائدة

According to Cnbc, President Donald Trump said Wednesday that he still has confidence in Federal Reserve Chair Kevin Warsh while demanding that the central bank cut interest rates to 1% “or less.” His comments came hours after the Federal Reserve announced its first rate increase since 2023.

The 12-member Federal Open Market Committee unanimously raised benchmark interest rates by 25 basis points, setting a target range of 3.75% to 4%. Warsh, whom Trump nominated as Fed chair, defended the widely expected increase as appropriate. In its statement, the FOMC said, “Inflation remains elevated,” while updated projections showed a strong majority of Fed officials expect another rate increase could be ahead.

Asked after arriving for a campaign trip to North Carolina whether he retained confidence in Warsh, Trump replied, “I do.” He said he was relying on Warsh but described the board as “very hostile” and “very political.” Trump also said he had told Warsh, “You might as well vote with the board. It’s not going to matter.” Asked whether Warsh acted based on Trump’s advice, the president said, “No, I don’t think so,” adding that he wanted him to be independent.

In a Truth Social post after the decision, Trump called for lower rates “AND FAST!” He wrote that U.S. rates “should be 1%, or less, because we are the Best Credit in the World — BY FAR.” Trump has renewed pressure on the Fed after that campaign had temporarily subsided following Warsh’s succession of Jerome Powell. White House spokesman Kush Desai said Trump “absolutely” still believes in Fed independence, while saying the president has a First Amendment right to speak out when “things go awry.”