Trump said, "Wosh would have exited early if he had raised interest rates," and Bessant stated that the president can intervene in the Federal Reserve.

Odaily Planet Daily News: US President Trump stated that if Kevin Woor had expressed a desire to raise interest rates, he would not have chosen Woor as his nominee for Federal Reserve Chair.

“If he came in and said, ‘I want to raise rates,’ then he wouldn’t get the job, absolutely not,” Trump said in an interview with NBC News on Wednesday.

He stated that there is “no doubt” that the Federal Reserve will cut interest rates because “our rates are too high,” but now “we are once again a wealthy country.” When asked whether Woor understood that Trump wanted him to lower the benchmark interest rate, the president replied, “I think he understands, but I think he was already looking to cut rates.”

Additionally, Trump is currently trying to justify the removal of Federal Reserve Board Member Lisa Cook, citing allegations of involvement in mortgage fraud, a case currently under review by the Supreme Court. U.S. Treasury Secretary Bessant testified before the House Financial Services Committee, stating that he believes the Federal Reserve is an independent agency, but the president has the authority to intervene in the Fed’s decisions.