US Stock Market: Trump backs Fed Chair Warsh after rate hold, softens tone on monetary policy

US President Donald Trump expressed confidence in Federal Reserve Chairman Kevin Warsh, a departure from his past criticisms of the central bank. While the Fed kept rates steady, with some policymakers hinting at future hikes, Trump indicated he trusts Warsh's judgment. Warsh, meanwhile, maintained a cautious stance on future rate movements and confirmed regular contact with the Treasury Secretary.