Trump says he still has confidence in Fed Chair Warsh, demands 1% or lower interest rates

President Donald Trump gestures as he speaks to the media before boarding Air Force One at Joint Base Andrews in Maryland, en route to Myrtle Beach, South Carolina, Aug. 21, 2026.Evan Vucci | ReutersPresident Donald Trump said Wednesday that he still has confidence in Federal Reserve Chair Kevin Warsh, but also said he wants the central bank to slash interest rates to 1% "or less."Trump's comments came hours after the central bank announced its first rate hike since 2023. Warsh, who was nominated by Trump as Fed chair, had defended Wednesday's widely expected rate increase of 25 basis points as appropriate. The decision by the 12-member Federal Open Market Committee to raise benchmark interest rates to a target range of 3.75% to 4% was unanimous."I do," Trump told reporters when asked after arriving on a campaign trip to North Carolina if he still had confidence in Warsh."I'm relying on Kevin, but he's got, you know, a very tough board, he's got a board that was put there by other people," Trump said. "And I told, I talked to Kevin, and I said, 'You might as well vote with the board. It's not going to matter.' ""The board is very hostile. They're very political. They're doing the w...