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Trump’s Repeated Calls to New Fed Chair Spark Senate Inquiry

8/6/2026

Summary

Story summary

President Donald Trump has repeatedly called Fed Chair Kevin Warsh since his May appointment, breaking precedent.
At Warsh’s swearing-in, President Donald Trump said he wanted the chair independent and not look to him.
After Fed left rates unchanged, Fed Chair Kevin Warsh said he would consider raising rates if inflation stiffened.
Democratic Senate Banking Committee members have demanded that Fed Chair Kevin Warsh disclose his contacts with President Donald Trump.

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Story summary

President Donald Trump has repeatedly called Fed Chair Kevin Warsh since his May appointment, breaking precedent.
At Warsh’s swearing-in, President Donald Trump said he wanted the chair independent and not look to him.
After Fed left rates unchanged, Fed Chair Kevin Warsh said he would consider raising rates if inflation stiffened.
Democratic Senate Banking Committee members have demanded that Fed Chair Kevin Warsh disclose his contacts with President Donald Trump.