The Federal Reserve left interest rates unchanged on Wednesday, resisting for now pressure from inside its own ranks to raise rates to combat persistently high inflation. “We will deliver,” Mr Warsh told reporters on Wednesday (US time), pushing back on concerns that the Fed had gone soft. Mr Trump, for his part, has argued insistently for lower rates; he repeatedly criticised Mr Warsh’s predecessor, Jerome H. Powell, for refusing to bring rates down. Mr Trump chose Mr Warsh to replace Powell in January. Logan, of the Dallas Fed, went further, becoming the first voting member to publicly call for a modest increase in interest rates.