Trump says of Federal Reserve Chairman Kevin Warsh: "he'll do what he has to do" on interest rates

President Donald Trump told reporters in the Oval Office on Monday that he respects Federal Reserve Chairman Kevin Warsh and trusts him to act appropriately on interest rates. Warsh has recently indicated the central bank will need to make adjustments if policymakers are not convinced inflation is moving toward its 2 percent target. Trump has repeatedly called for lower borrowing costs, saying the U.S. should have extremely low rates worldwide. The Fed’s preferred inflation measure remained at 3.7 percent annually as of July, according to the report. Voters are focused on affordability before November’s midterm elections, and central bankers are scheduled to meet next month to consider any rate changes.