US President Donald Trump stated that he had spoken with Federal Reserve Chairman Kevin Warsh before the Fed's unanimous vote on Wednesday to raise the federal funds rate target range by 25 basis points to 3.75%-4%, telling Warsh, "Do whatever you want to do." Warsh, in response to external questions at a press conference, emphasized that the Federal Reserve's independence is a two-way street. Trump reiterated that evening that he wants Warsh to remain independent, but also insisted that US interest rates should be cut to 1%.