FED’S WARSH FACES INDEPENDENCE TEST Fed Chair Kevin Warsh faces a credibility test as markets weigh whether he will hike rates despite President Trump’s push for lower borrowing costs. Macquarie says Warsh could position himself as a “reluctant hawk”, but intensifying White House pressure on Fed officials could ultimately force him to choose between political alignment and central-bank independence. 11-SEP-2026 07:24 AM ET