Trump: If Woshur Tiga had raised interest rates earlier, he would have been out early. There is not much suspense regarding rate cuts.

ZkProver · 2026-02-05T01:16:10+00:00

Trump stated that if Wosh had expressed support for interest rate hikes, he would not be nominated as Federal Reserve Chair. He believes the Federal Reserve should cut interest rates and emphasized the relationship with the Fed's independence. Senator Tillis vowed to block any nominations until the investigation is complete, while Powell said the investigation could impact the Fed's independence.

ZkProver

2026-02-05 01:16:10

Abstract generation in progress

ChainCatcher reports that, according to Phoenix News, U.S. President Donald Trump stated that if Kevin Woor had ever expressed a desire to raise interest rates, he would not have been nominated for Federal Reserve Chair.

“If he had come in and said, ‘I want to raise (interest rates),’ he wouldn’t get the job, no,” Trump said in an interview with NBC News on Wednesday.

Trump indicated that a rate cut by the Federal Reserve is “not much” of a surprise because “our interest rates are too high,” but now “we have become a wealthy country again.”

When asked whether Woor understood that the president wanted him to lower the benchmark interest rate, Trump responded, “I think he understands, but I think he also wanted to do that.”

These comments from Trump could be mentioned during Woor’s confirmation process, and the independence of the Federal Reserve is likely to become a key issue in the confirmation.

Senate Banking Committee Republican Senator Thom Tillis has vowed to block any nominee Trump puts forward to the Federal Reserve until the Justice Department concludes its investigation into the renovation of the Fed headquarters.

Outgoing Chair Jerome Powell called the investigation an almost unabashed attack on the Fed’s ability to independently decide monetary policy. Trump administration officials denied this, but Trump himself has been pressuring Powell for months to cut interest rates.

Woor previously served as a Federal Reserve Board member, known for his hawkish stance on inflation, but he has recently expressed support for rate cuts.

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