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Trump Jokes About Suing His Fed Chair Pick Over Interest Rates
The president made the comment at the annual Alfalfa Dinner in Washington.
Feb. 1, 2026 at 8:47am
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President Trump joked about suing his Federal Reserve chair nominee, Kevin Warsh, at the Alfalfa Dinner in Washington, telling reporters afterwards that the event was 'a roast.' Trump selected Warsh as his pick to chair the Federal Reserve on Friday after months of slamming current Chair Jerome Powell, whose term ends in May, for not lowering interest rates.
Why it matters
Trump's selection of Warsh as the next Fed chair has drawn scrutiny, as the Department of Justice has launched a criminal investigation into Powell over renovations at the Federal Reserve's headquarters. This has raised concerns about the president's attempts to weaken the Fed's independence.
The details
At the Alfalfa Dinner, a bipartisan event in Washington, Trump joked about suing his Fed chair nominee, Kevin Warsh. Trump told reporters afterwards that the event was 'a roast.' The president selected Warsh as his pick to chair the Federal Reserve on Friday, after months of criticizing current Chair Jerome Powell for not lowering interest rates.
- Trump made the joke about suing Warsh at the Alfalfa Dinner in Washington on February 1, 2026.
- Trump selected Warsh as his pick to chair the Federal Reserve on Friday, prior to the Alfalfa Dinner.
The players
Donald Trump
The former president of the United States who selected Kevin Warsh as his nominee to chair the Federal Reserve.
Kevin Warsh
Trump's pick to chair the Federal Reserve, a former Morgan Stanley banker who also served as an economic adviser to former President George W. Bush.
Jerome Powell
The current chair of the Federal Reserve, whose term is set to end in May 2026.
What they’re saying
“Yes, it's a roast. It was all comedy.”
— Donald Trump
What’s next
Warsh's nomination to chair the Federal Reserve will need to be confirmed by the Senate, but it is unclear whether he will have enough support to be confirmed given the criminal probe into the Fed and concerns about the president's attempts to weaken its independence.
The takeaway
Trump's joke about suing his own Fed chair nominee highlights the ongoing tensions between the president and the Federal Reserve over interest rate policy. This episode underscores the broader political pressures facing the central bank and raises questions about the future independence of monetary policy.
