Trump says he spoke recently to Fed Chairman Warsh, denies regular calls

• Trump contradicted a news report claiming regular contact with Warsh, stating they spoke only once recently, though timing relative to Trump's effort to oust a Fed Board member remains unclear
• Warsh has stated he welcomes input from the president or others on rates but will make independent decisions; Trump acknowledged 'if it was up to him, it would be different, but he's got a board'
• Direct president-Fed chair meetings have been rare in recent years; Trump had only one scheduled meeting with former Chair Jerome Powell since returning to the presidency in 2025, reflecting historical norms designed to preserve Fed independence

Summary: Trump Confirms Single Recent Conversation with Fed Chair Warsh

Key Development: President Donald Trump confirmed Monday he spoke with Federal Reserve Chairman Kevin Warsh "one time, briefly, a few days ago," contradicting an earlier news report claiming the two had been in regular contact since Warsh assumed the chairmanship in May 2026.

Main Players:

• Kevin Warsh: Current Fed Chairman (sworn in May 22, 2026)
• Donald Trump: President (returned to office in 2025)
• Scott Bessent: Treasury Secretary
• Jerome Powell: Former Fed Chair

Critical Context:

The clarification addresses mounting concerns about Federal Reserve independence from political pressure. Trump has broken with presidential precedent by publicly commenting on interest rate policy and pressuring the Fed. He recently revived efforts to remove a Fed Board member serving a 14-year term, though timing relative to the Warsh conversation remains unclear.

Historical Precedent:

Direct president-Fed chair communications have been rare in recent years. Trump had only one scheduled meeting with former Chair Powell since 2025. The article references the 1970s relationship between Fed Chairman Arthur Burns and President Nixon, which preceded a severe inflation period, as a cautionary tale.

Fed Independence Issues:

While Trump has stated Warsh should lower interest rates, he maintains the chairman has autonomy. Warsh has indicated willingness to hear input but will make independent decisions. Congress granted the Fed power to set rates free from political influence.

Additional Detail:

Warsh's June calendar shows three meetings with Treasury Secretary Bessent, continuing the traditional regular breakfast meetings between these officials.