Trump harasses new Fed chair Warsh with personal calls to unprecedented levels, sparking concern

US President Donald Trump has reportedly been making frequent, informal phone calls to the new Federal Reserve Chairman, Kevin Warsh, since Warsh took office in May. These calls, sometimes multiple times a week, deviate from historical precedent designed to ensure the Fed's independence from political influence. While it's unclear if monetary policy is directly discussed, Trump reportedly seeks advice on politicized economic issues like the impact of the Iran war and artificial intelligence. This behavior revives concerns about the Fed's independence, despite Trump publicly stating at Warsh's swearing-in that he wanted the chairman to be "totally independent." Trump has called Warsh a "brilliant guy" even though Warsh has resisted Trump's push for rate cuts, indicating a willingness to increase rates due to inflation, a stance that previously led to clashes with former Fed chair Jerome Powell.