Trump Is Running Out of Cards and His Rivals Know It
Why reflation is winning the argument the president thought he’d already settled
By Dorian, ZTrader.AI Research — July 22, 2026
Kevin Warsh was supposed to be the fix.
Trump picked him, swore him in personally at the White House on May 22, and told anyone who’d listen that this was finally a Fed chair who understood that low rates solve everything.
Seven weeks later, Warsh sat through a 12-0 vote to hold the funds rate at 3.50–3.75%.
