Story thread · 5 reports / 4 sources

Internal revolt erupts as Trump appointee enrages Wall Street: 'Not confident'

rawstory.com · 11dShare

One of President Donald Trump's most scrutinized appointees faces an internal revolt after his first major address to the press imploded . Multiple Fed officials are fuming that Fed Chair Kevin Warsh enraged Wall Street Wednesday with his claim that there was no reason to raise short-term interest rates, the Wall Street Journal reported Friday. Three Federal Reserve policymakers have publicly challenged Warsh's decision to hold rates steady, signaling mounting internal pressure for action on inflation, according to the report. Cleveland Fed President Beth Hammack and Minneapolis Fed President Neel Kashkari dissented from the committee's decision to maintain rates at 3.5% to 3.75%, voting instead for an increase. Dallas Fed President Lorie Logan joined them in the dissent. In separate statements Friday morning, Hammack and Kashkari explained their positions. Hammack expressed concern that inflation, which has remained above 2 percent for more than five years, will not return to target w

First report: FOMC sees three dissents in same direction for first time since 2016 — seekingalpha.com, 13d