Bloomberg Surveillance · Wednesday, September 16, 2026
The White House described the Fed's rate hike as 'unfortunate,' with a special assistant stating it would not impact oil prices. While respecting Fed independence, the administration expressed a preference for rate cuts, framing this decision in the context of upcoming midterm elections.
“We have heard from his special assistant and deputy press secretary, Kush Desai, who spoke on Fox News saying that the rate hike was unfortunate, that it isn't going to do anything to bring oil prices down, though he also added that the president still. respects Fed independence and believes in it.”
“Of course, President Trump, when advocating for a rate cut, comes at it with the frame of reference. Of a real estate developer. He sees the U.S. As a very creditworthy borrower and therefore deserving of a lower interest rate.”
“He also has suggested that he is willing to give Kevin Warsh as a new chair some room here, blaming instead the other members. Of the FOMC.”