The president also suggested that he doesn’t expect Kevin Warsh to follow his directions, saying he wanted the Fed “to be independent.” The latest clash follows a quarter-point increase, with policymakers pointing to persistent inflation while the White House has pushed for lower borrowing costs. Key points and original sources are listed below.

• The president also suggested that he doesn’t expect Kevin Warsh to follow his directions, saying he wanted the Fed “to be independent.”S1

• The latest clash follows a quarter-point increase, with policymakers pointing to persistent inflation while the White House has pushed for lower borrowing costs.S2