Washington —
The next chair of the Federal Reserve might already be a disappointment to President Donald Trump – even before they’re named.
Trump has demanded aggressive cuts to interest rates next year, but that’s looking more and more like an uphill battle: On Wednesday, as Trump interviewed former Fed Governor Kevin Warsh for the top job at the central bank, Fed officials penciled in just one rate cut in 2026.
The president continues to insist that interest rates should be much lower, even criticizing the Fed’s third consecutive quarter-point cut, announced Wednesday, as “too small.” Earlier this week, Trump told Politico that he fully expects whoever he picks for Fed chair to cut rates.
Above and beyond the fact that a Fed chair doesn’t unilaterally decide on rate moves, cutting rates n
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