Trump in August named White House adviser Stephen Miran to the Fed, where he has become a leading proponent of the aggressive rate cuts that Trump has long sought. He has also called for a broad overhaul of the central bank that would slim its balance sheet and ease bank regulations. It is not clear how the pick may affect the trajectory of rates in the short term. The Fed’s three rate cuts in 2025 brought short-term borrowing costs to the 3.50%-3.75% range. Warsh’s inflation concerns proved misplaced, but the ​large size of the Fed’s balance sheet, and the role it plays in managing interest rates, have remained a concern.

Source: Bangkok Post January 30, 2026 14:17 UTC