Trump contacts Warsh to boost Fed influence

Reports have confirmed that former U.S. President Donald Trump was maintaining regular phone contact with Federal Reserve Chair Jerome Powell since taking office, with the aim of influencing monetary policies, particularly a reduction in interest rates. While Powell emphasized the Fed's independence, Trump was demanding lower borrowing costs and, during his presidency, underscored the importance of exerting greater influence over the Federal Reserve. These communications represent an unusual interference in the decision-making processes of the central bank and pose a challenge for Powell, who is attempting to preserve the Fed’s independence amid political and economic pressures, including issues such as inflationary pressures and the international crisis with Iran.

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