Warsh’s Task Gets Tougher Even Before He Reaches the Fed

Kevin Warsh is still months away from taking the helm at the Federal Reserve, but his ability to deliver the interest-rate cuts President Donald Trump expects is facing hurdles as the US economy, and his future colleagues, tilt in the opposite direction.

Most Fed officials see no compelling reason to rush additional rate cuts, given inflation is still elevated and the labor market seems to be stabilizing. The biggest surge in oil prices in four years, stemming from renewed conflict in the Middle East, might only add to their reluctance.

Several policymakers have also voiced skepticism over the ideas underpinning ...