Federal Reserve Chairman Kevin Warsh indicated that he is in regular communication with the Trump administration, stating, "I do meet with the Treasury Secretary weekly. I talk to him often between that." This continues a longstanding tradition of weekly breakfast meetings between the Fed chair and the Treasury Secretary, which Warsh has extended. He also mentioned that he does not "feel uncomfortable receiving a call from the chairman of this committee or the president of the United States.
During a Senate banking committee hearing, Warsh declined to confirm whether he had spoken directly with President Trump since assuming the chairmanship. However, he implied that such communication, if it occurred, should not be viewed as compromising his independence. Kevin Hassett, a top Trump economic advisor, also confirmed recently speaking with Warsh, praising Warsh's new task forces during their conversation.
Warsh's current position is delicate, as he is only seven weeks into his term. He was appointed by a president who has consistently called for lower interest rates. Warsh's predecessor, Jerome Powell, had fewer direct interactions with Treasury Secretary Bessent outside of their regular breakfast meetings, with only one such additional meeting recorded in 2026 to discuss AI risks with bank CEOs. Warsh's communication practices are being closely watched by investors trying to ascertain the future direction of interest rates.
