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Trump Regrets Fed Pick; Economy Faces Job Losses

2/16/2026

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Story summary
  • U.S. President Donald Trump said he made a big mistake by not appointing Kevin Warsh as Federal Reserve Chair in 2017, under Steven Mnuchin's influence.
  • Warsh was the runner-up to Jerome Powell.
  • A Federal Reserve report found that 2025 tariffs burdened U.S. businesses and consumers by 94%.
  • The U.S. economy added 130,000 jobs in January, but a revision showed a 533,000-job loss.