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The decision on Federal Reserve interest rate policy sits with the Federal Reserve Board as a whole, not with Chair Kevin Warsh alone.
Former President Donald Trump said so publicly, describing the board as "very political." He also stated he would not criticize Warsh.
Board structure carries the decision Trump drew a clear line between the chair and the institution. Warsh, in his telling, does not hold unilateral discretion over the rate call.
The authority, Trump argued, rests with the full Federal Reserve Board. He described that body as politically constituted, a framing that separates institutional character from individual leadership.
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