Trump expresses confidence in Fed Chairman Bush, hinting at possible rate hikes this year

US President Trump (pictured) expressed confidence on the 17th in Washington, chairman of the Federal Reserve Board of Governors, who has been in office for less than a month. (AP file photo)

[Instant News/Comprehensive Report] On the 17th, U.S. President Trump expressed confidence in Federal Reserve Board (Fed) Chairman Bush, who has been in office for less than a month. Washer presided over the first interest rate decision-making meeting since taking office on the 17th. The Federal Reserve decided to keep interest rates unchanged and released the latest forecast showing that nearly half of U.S. central bank officials believe that it is still necessary to raise interest rates this year.

Reuters reported that when asked what he thought about the Fed's on-action policy, Trump, who was attending the G7 summit in France, said: "It doesn't matter, whatever."

Trump has repeatedly criticized Washer's predecessor, Jerome Powell, in the past, calling him a "moron" and a "knucklehead" for his unwillingness to cut interest rates. Trump has long advocated that the Federal Reserve should lower borrowing costs to boost the housing market, stimulate economic growth, and reduce the federal government's borrowing costs.

However, Trump did not criticize Washington on the 17th. Trump once described Washer as "looking like he came straight out of the draft."

Regarding the possibility of raising interest rates this year, Trump bluntly said that it is "possible." "It's hard to believe," he said. "Raising interest rates would only depress the country's development, and it would be quite unusual. But we have a very good person there now, so I will look at it according to his judgment."

At the same time, Washer refused to disclose the possible future direction of interest rates at a press conference after the policy meeting. He also refused to say whether he had spoken to Trump since taking over the Fed last month, but confirmed that he had met with Treasury Secretary Scott Bessent multiple times.

"I don't have anything to add about the president," Washer said. "As for the Treasury secretary, he even posted a picture of us having breakfast together, so... I guess I can't deny that the tradition of weekly meetings between the Fed president and the Treasury secretary continues. We've had probably three of those meetings now. I believe he's overseas this week, so this is one of the few exceptions."

Washer told lawmakers at a Senate confirmation hearing that he plans to work closely with the administration on non-monetary policy areas.

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