President Donald Trump's handpicked chair of the Fed is off to a rough start after a major economic face-plant on Wednesday, according to a new report. He attempted to frame the central bank's role in performative terms as he announced Fed held rates would be held steady at between 3.5 to 3.75 percent, the Times reported. Lael Brainard, who served as Fed vice chair before joining the Biden administration argued Warsh had made a simple mistake. "As a central banker, this is exactly what you don't want," he said. "You don't want the market questioning your inflation credibility."