Peter Navarro Takes Aim at Trump‑Picked Fed Chair, Calls Him ‘Not MAGA’

During a rambling appearance on Steve Bannon’s cable show, long‑time Trump loyalist Peter Navarro let it rip on the administration’s own Federal Reserve chair. The 77‑year‑old senior trade adviser, who has been a vocal champion of the president’s tariff crusade, announced that Kevin Warsh – the former banking regulator Trump lauded as a future “great chairman” – is, in Navarro’s words, “not MAGA.”

“I’m not a Warsh guy,” Navarro said, pausing for effect before adding, “I see him not as MAGA.” He then riffed on a new acronym, calling the Fed chief an “MRA” or “MSGA,” and joking that it stands for “Make Recessions Great Again” – or perhaps “Make Stagflation Great Again.” The tone was unmistakably scornful, as he accused Warsh of “selling himself” and now “selling us out.”

The spark for Navarro’s tirade was Warsh’s decision, announced on Wednesday, to raise the federal funds rate by a quarter‑point. The move, meant to curb stubborn inflation, ran counter to the White House’s longstanding pleas for lower rates – pleas that echo the Trump administration’s earlier demands for the Fed to slash borrowing costs. Navarro portrayed the hike as a political betrayal, suggesting the Fed’s “anti‑Trump” bias had finally shown its teeth.

Even former adviser Steve Bannon weighed in, reminding viewers that the rate increase was supported unanimously by the Federal Open Market Committee. Still, Navarro warned that the “monumental mistake” would haunt the administration, predicting another misstep in October if the Fed “doesn’t read history.” President Trump, meanwhile, took a more measured tone on Truth Social, urging a one‑percent rate while reaffirming his confidence in Warsh, saying he’d spoken with the chair and understood the “hostile” environment of the Fed board.

The episode underscores the growing friction between Trump’s economic team and the central bank. As inflation remains a sticky issue amid an expensive war in Iran, Navarro’s accusations that Warsh might be a “secret Democratic operative” add a conspiratorial flavor to an already tense policy debate. Whether the Fed’s independent stance will be reshaped by political pressure or remain steadfast is now the latest chapter in the post‑2024 battle over America’s monetary future.