Key Takeaway
Kevin Warsh, Donald Trump’s pick for Fed chair, expected to raise rates despite intense pressure from presidentBusiness editorThe Fed has two mandates: price stability and supporting the job market. The jobs market has remained robust but spikes in energy prices have put the central bank under pressure to raise rates in order to bring down inflation.
Published September 16, 2026 · Category: News
Overview
Kevin Warsh, Donald Trump’s pick for Fed chair, expected to raise rates despite intense pressure from president
Business editor
Details
The Fed has two mandates: price stability and supporting the job market. The jobs market has remained robust but spikes in energy prices have put the central bank under pressure to raise rates in order to bring down inflation. Americans have spent over $100bn extra on gasoline and diesel during Trump’s war on Iran than they would have had there been no war, according to estimates by the Climate Solutions Lab at Brown University.
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Source
Originally published at www.theguardian.com.
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What is "Federal Reserve expected to announce interest rate increase – live" about?+
Kevin Warsh, Donald Trump’s pick for Fed chair, expected to raise rates despite intense pressure from presidentBusiness editorThe Fed has two mandates: price stability and supporting the job market. The jobs market has remained robust but spikes in energy prices have put the central bank under pressure to raise rates in order to bring down inflation. Americans have spent over $100bn extra on gasoline and diesel during Trump’s war on Iran than they would have had there been no war, according to e
Who reported this story?+
This story was reported by The Guardian World.