US President Donald Trump on Tuesday said he would be disappointed if Kevin Warsh, his nominee for Federal Reserve chairman, does not cut interest rates immediately after taking office after being confirmed by the Senate. Trump also said during an interview with CNBC’s “Squawk Box” that “we have to find out about the construction cost of the new Federal Reserve building”.Warsh, a former Federal Reserve official and financier, is currently facing Senate confirmation hearings where he has stressed his independence from political pressure.“The President never asked me to commit to any particular interest rate decision, nor would I have agreed to it if he had agreed,” Kevin Wersh said during questioning by the Senate Banking Committee, as quoted by the LA Times. “I will be an independent actor if confirmed as Chairman of the Federal Reserve.”Warsh told lawmakers that fighting inflation would be one of his main priorities if confirmed.“Congress has entrusted the Fed with the mission of ensuring price stability without excuse, argument or pain,” Warsh said. “Inflation is a choice and the Fed must take responsibility for it.”The comments come as investors are keeping a close eye on his confirmation hearing, with inflation remaining at 3.3% annually and gas prices rising due to global tensions, including the war in Iran, adding pressure to the economy. High inflation typically prompts the Federal Reserve to raise interest rates rather than keep them steady or cut them, as rate changes affect mortgages, auto loans and business lending.Democrats on the Senate Banking Committee accused Warsh of changing his stance on interest rates over time, supporting higher rates under Democratic presidents and supporting lower rates during Trump’s presidency.If Warsh is confirmed, he would take over at a time when inflation pressures have made it difficult for the Federal Reserve to cut rates, even as Trump is pushing for lower borrowing costs. Trump has repeatedly urged rate cuts and has long clashed with current Fed Chairman Jerome Powell over monetary policy. Powell has also been the subject of a Justice Department criminal investigation after rejecting Trump’s requests for rapid rate cuts. Trump told CNBC that he does not plan to pressure the Justice Department to end that investigation.