US President Donald Trump is intensifying pressure on Kevin Warsh, a potential Federal Reserve pick, by advocating for a reduction in interest rates. This follows Trump's criticism of Warsh’s predecessor, Jay Powell, whom he labeled as incompetent for not acting quickly enough to cut rates. The article notes that expectations are growing for an increase in borrowing costs.

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Donald Trump piles pressure on Kevin Warsh with call for rate cut

US president raises stakes for central bank pick as expectations grow that borrowing costs will rise

Donald Trump shakes hands with Kevin Warsh during a swearing-in ceremony, with US flags in the background. Kevin Warsh, left, with Donald Trump. The president repeatedly criticised Warsh’s predecessor Jay Powell as a ‘moron’ and a ‘numbskull’ for failing to cut rates quickly enough © Aaron Schwartz/AFP/Getty Images

Myles McCormick in Washington

PublishedJune 7 2026

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