President Donald Trump has escalated his public pressure on the Federal Reserve, labeling the central bank "hostile" and urging Chair Kevin Warsh to cut interest rates.
The remarks, reported by multiple wire services, mark a sharp intensification of the political standoff between the White House and the Fed.
This stance has put the new chair at odds with the president, who has consistently argued that borrowing costs are too high for the economy.
The comments come at a sensitive juncture for monetary policy.
Warsh recently signaled that the central bank would prioritize bringing down inflation, effectively ruling out the immediate rate cuts sought by the administration.
This stance has put the new chair at odds with the president, who has consistently argued that borrowing costs are too high for the economy.
Markets have already begun to price in rate cuts following weak June jobs data and downward revisions to earlier figures.