With inflation topping 4%, the Trump administration is easing off its long-standing calls for the Federal Reserve to immediately cut interest rates. That is giving new Fed Chairman Kevin Warsh an extended political grace period as he deals with a challenging economic environment, but underscores the depth of the pushback he could face if the mercurial president changes his mind. President Donald Trump said as recently as Wednesday that he wants the Fed to cut rates. Meanwhile several of the president’s top economic advisers have in recent interviews and writing stopped short of calling for near-term rate cuts, as ... (full story)