UBS On-Air: Paul Donovan Daily Audio 'Murky situations'

US Treasury Secretary Bessent warmly endorsed Federal Reserve Chair Warsh, describing Warsh as competent and capable of lowering inflation. Such endorsements are not unusual, but as Warsh had to deny being US President Trump’s “sock puppet” this sort of intervention might shape perceptions of political influence. US inflation should fall as the inflationary effects of administration policies (tariffs, war) fade, rather than as a result of Fed policy actions.