Trump turns up the heat on Warsh as Fed rate hike looms - CNBC

President Trump, Vice President JD Vance, Treasury Secretary Scott Bessent and senior economic counselor Peter Navarro launched a broad public pressure campaign urging the Federal Reserve not to raise interest rates—and in some cases to cut them—ahead of the Sept. 15-16 meeting.
Trump escalated on Friday by threatening to halt trade with countries running trade surpluses with the U.S. unless the Fed cuts rates, marking the first time he directly linked tariffs to Fed policy.
Navarro, in an interview with Steve Bannon, called a potential rate hike "careless," described members of the Federal Open Market Committee as "clowns," and said Fed Chairman Kevin Warsh is trying to "do the right thing."
Markets have priced in roughly a 60% chance of a quarter-point September hike, supported by a jobs report showing employers added 162,000 positions in August.
Warsh, whom Trump has notably refrained from criticizing directly unlike former chair Jay Powell, has expressed concern that inflation remains above the Fed's 2% target and is broad across consumer categories.
The pressure arrives at a politically sensitive moment, roughly two months before November midterm elections in which polls indicate the administration faces headwinds, adding to the stakes surrounding the Fed's decision.