Treasury Secretary Scott Bessent said Monday he has "great confidence" in Federal Reserve Chair Kevin Warsh after the central bank raised interest rates by a quarter point against the wishes of President Trump. "I have great confidence in Chair Warsh," Bessent told host Joe Kernen on CNBC's " Squawk Box ." "More importantly, the president has great confidence in him, and we are sure that he will do the right thing to balance the inflation mandate versus the growth mandate." The 12-member Federal Open Market Committee (FOMC), which Warsh sits on, voted unanimously last week to raise its benchmark interest rate to a range of 3.75 percent to 4 percent.
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