US President Donald Trump gives a speech during the inauguration ceremony of the new president of the Federal Reserve, Kevin Warsh, in the East Room of the White House, in Washington, D.C., USA, on May 22, 2026. Reuters President Donald Trump said on Wednesday (29) that he maintains his support for Kevin Warsh, his chosen one to lead the Federal Reserve (Fed), the central bank of the United States, and classified the leader as "brilliant". The support comes even after Warsh failed to deliver the interest rate cuts that Trump urgently wants and with little prospect of a rate reduction in the short term. ? "He's a brilliant guy," Trump told reporters in the Oval Office. "I know he would love to see lower interest rates, but he has advice, and it's political advice, and they want to keep rates high. But we face the rates." This Wednesday, the Fed kept the US interest rate unchanged in the range of 3.50% to 3.75% per year, the lowest level since September 2022. The measure came in line with financial market expectations. Kevin Warsh was sworn into office on May 22, when he officially began his four-year term following a ceremony at the White House. At a press conference following Wednesday's decision, Warsh adopted an inflation-fighting tone — indicating that the Fed may keep interest rates high for longer. "We begin a new chapter. Understand that more than five years of inflation above the target cannot be corrected in nine weeks," he said. "This Fed will not waver. Our credibility depends on fulfilling our duties and responsibilities," he added. This was the fifth consecutive meeting in which the Fed decided to keep interest rates unchanged, the second under Warsh's leadership. During Jerome Powell's administration, which ended on May 15, Trump adopted a much more critical tone towards the central bank. On several occasions, the American president increased pressure after the Fed failed to announce interest rate cuts. He even called Powell a “mule”, “empty head” and “stupid”. Since the beginning of his second term, the Republican has argued that high interest rates make credit more expensive and harm the economy. REMEMBER POWELL'S TRAJECTORY AT THE FED: Pressure and offenses from Trump: Super Wednesday will see Powell's final decision at the head of the Fed; remember