New Fed Chair vows independence amid call for lower rates

New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought.
In remarks at a central bank conference in Sintra, Portugal, Warsh said that, if businesses or households thought the Fed would accept inflation above 2.0 per cent, “I guess they’d be disappointed. We’re going to deliver price stability.”