Trump Blinks as Fed Holds & Inflation Bites
Edited By WION Video Desk
Published: Jun 19, 2026, 11:12 IST | Updated: Jun 19, 2026, 11:12 IST
Washington's most predictable drama has flipped. For over a year, President Donald Trump branded Jerome Powell a "knucklehead" for refusing to cut interest rates. On Wednesday, with new Fed Chair Kevin Warsh holding rates steady at his very first meeting, and half the Fed signalling a possible rate hike, Trump's reaction from Paris was: "It's all right. Whatever."
On Wednesday, President Trump, referring to new Fed boss Kevin Warsh, said: "We have a very good guy over there now, so I'm guided by what he wants."
The Fed left rates unchanged, with about half the members signalling the next move to be a hike rather than a cut. So Trump's comment is not policy alignment, but a relationship pivot.
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