Bill Dudley, Columnist

Kevin Warsh Has No Good Reason to Lower Rates

April 30, 2026 at 10:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Excuses, excuses.
Photographer: Graeme Sloan/Bloomberg

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Kevin Warsh, the prospective chair of the US Federal Reserve, keeps coming up with new reasons to lower short-term interest rates, an outcome that President Donald Trump has long demanded.

His latest rationale — that inflationary pressures are subsiding — is no more convincing than its predecessors.