Inflation Could get in the way of Warsh’s Desire to cut Interest Rates, CNBC Survey Finds

CNBC, Apr 28 2026-Steve Liesman

Efforts by Fed chair nominee Kevin Warsh to satisfy President Donald Trump’s demands for lower rates look likely to be stymied by high oil prices and inflation, according to the latest CNBC Fed Survey.

High oil prices are seen pushing up inflation while pushing down growth. And 81% believe crude prices are likely to drive up core inflation as well, compounding the difficulty of cutting rates.

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