Catherine Rampell

When he comes into the Fed, he's supposed to be, you know, sort of like,

operating by consensus, getting everybody onto an agreement about where interest rates and other monetary policy should go.

He's supposed to be marshalling the troops and getting them to, you know, more or less they vote as a bloc.

There are a couple of dissents recently.

That's unusual.

Usually they vote as a bloc.

So he's trying to get them all on the same page.

Meanwhile, Donald Trump is going to be breathing down his neck saying, why aren't you cutting rates?

And even if he wanted to, he can't force this group of people to do it.

So I wonder what Kevin Warsh is going to do.

Is he going to, like, be the first Fed chair ever to dissent from the rest of the Fed?

I don't think that's going to happen, but he's going to have to manage expectations for Donald Trump.

Yeah, except that Warsh's vote on interest rates will be public.

So is he actually going to, you know, he can tweet like they're not... 11 to 1.

Yeah, I mean, he can tweet saying they did what I...

the opposite of what I wanted them to do.

But A, he looks ineffectual.

And B, like his vote will be a matter of public record.

Did he vote along with them?

I mean, and I wonder how worried he is or should be about Trump weaponizing the state against him like Trump has against Jay Powell.