Warsh Set to Inherit a Fed That Looks Ready to Fight Rate Cuts

As Kevin Warsh moves closer to becoming chair of the Federal Reserve, his future colleagues are moving further from supporting the resumption of interest rate cuts that President Donald Trump is expecting.

In their last meeting under current Fed Chair Jerome Powell, policymakers on Wednesday were almost unanimous in agreeing to hold interest rates steady. But a deep split emerged over where rates might go from here, with three officials dissenting over language that still pointed to future cuts.