Peter Navarro, former trade advisor to the Trump administration, stated in a conversation with Steve Bannon that if the Federal Reserve were to raise interest rates rashly now, it would strike at the areas most needed by the U.S. economy, such as factory construction, capital investment, machinery, housing, and manufacturing. He expressed disbelief that the Federal Reserve would do the right thing and hoped that Federal Reserve Chairman Warsh would stop those inclined to raise rates, who are incited by the financial press.