President Trump endorsed the Federal Reserve's latest rate hike during a surprise phone call with Fed Chair Warsh days before the decision, temporarily easing tensions between the White House and the central bank. Despite Trump's repeated public criticism of high interest rates, this direct communication signals a short-term truce after the administration previously viewed the Fed as an adversary. The accord may prove fragile if the Fed implements another rate increase in October ahead of the midterm elections. Administration officials warn that further tightening could trigger renewed scrutiny from Trump and his advisers, raising questions among investors about whether Warsh maintains independent control over monetary policy or is being influenced by political pressure.