Trump said, "If Wash had proposed a rate hike earlier, he would have been out," and Bessant stated that the president can intervene in the Federal Reserve.

BlockBeats News, February 5 – U.S. President Donald Trump stated that if Kevin Woorh had expressed a desire to raise interest rates, he would not have chosen Woorh as his nominee for Federal Reserve Chair.

“If he came in and said, ‘I want to raise rates,’ he wouldn’t get the job, absolutely not,” Trump said in an interview with NBC News on Wednesday.

He indicated that there is “no real” doubt that the Federal Reserve will cut interest rates because “our rates are too high,” but now “we are once again a wealthy country.” When asked whether Woorh understood that Trump wanted him to lower the benchmark interest rate, the president replied, “I think he understands, but I think he was already looking to cut rates.”

Additionally, Trump is currently trying to justify the removal of Federal Reserve Board Member Lisa Cook, citing allegations of involvement in mortgage fraud, a case currently under review by the Supreme Court. U.S. Treasury Secretary Janet Yellen testified before the House Financial Services Committee, stating that she believes the Federal Reserve is an independent institution, but the president has the authority to intervene in the Fed’s decisions.