Warsh calendars list other White House economic meetings but no Trump entry

Four Senate Democrats asked Federal Reserve Chair Kevin Warsh in a letter on Wednesday to publicly disclose his conversations with President Trump.

The letter, led by Sen. Chris Van Hollen (D., Md.) and signed by three other members of the Senate Banking Committee, follows reporting by The Wall Street Journal earlier this month that Warsh and Trump have spoken repeatedly since Warsh was sworn in as Fed chairman in May. Warsh’s publicly released appointment calendars, covering the first five weeks of his term, list meetings with other senior White House economic officials but no entries for calls with Trump.

The lawmakers said undisclosed contacts risk creating “a perception that the White House is shaping monetary policy.” They called the lack of transparency “even more curious” given that the calendars do record appointments with other senior White House economic officials.

A Federal Reserve spokesperson said the Fed has not changed its practice of listing scheduled events and meetings in the monthly appointment calendars that are released publicly with a one-month delay.

The letter asks Warsh to either confirm in writing that he has had no contact with Trump since being sworn in, or to amend his released calendars to disclose any calls. Warsh did not directly answer questions from Van Hollen at a Senate Banking hearing last month about any conversations he may or may not have had with the president.

The White House and Trump have offered differing accounts of the contacts. National Economic Council Director Kevin Hassett said on Bloomberg Television on Aug. 7 that “Kevin Warsh and the president have a very close, long-term relationship…and they talk about the economy all the time,” adding that Trump does not pressure the Fed chairman on interest-rate decisions.

Trump told the Journal on Aug. 10 that the paper’s reporting was not accurate, saying he had spoken to Warsh “one time, briefly, a few days ago.”

The letter draws a contrast with the disclosure practices of Jerome Powell, Warsh’s predecessor, who was nominated by Trump during his first term. Powell logged his calls with Trump down to the minute and provided immediate disclosures of three meetings he had with the president in 2019 and 2025, according to the Journal.

Informal contacts between presidents and Fed chairs were routine in the 1960s, narrowed sharply after Richard Nixon’s pressure campaign on Arthur Burns preceded the inflation of the 1970s, and by the 1980s ran largely through the Treasury secretary, the Journal reported.

In December, Trump said he wanted the Fed chair to consult with him on where to set interest rates, telling the Journal, “I’m a smart voice and should be listened to.”

At Warsh’s swearing-in ceremony six months later, Trump said the opposite. “I want Kevin to be totally independent,” he said. “Don’t look at me, don’t look at anybody. Just do your own thing and do a great job.”