WASHINGTON (AP) — JD Vance has endorsed former President Donald Trump's call for the White House to have “a say” over the Federal Reserve's interest rate...
former President Donald Trump 's call for the White House to have “a say” over the Federal Reserve 's interest rate policies — a view that runs counter to“President Trump is saying I think something that’s really important and actually profound, which is that the political leadership of this country should have more say over the monetary policy of this country,” the Republican vice presidential nominee said in an interview over the weekend. “I agree with him.
By adjusting its short-term interest rate, the Fed influences borrowing costs for consumers and businesses, including for mortgages, auto loans, and credit card borrowing. It can raise its rate, as it did in 2022 and 2023, to cool spending and bring down inflation. The Fed also often cuts its rate to encourage borrowing, spending, and growth. At the outset of the pandemic, it cut its rate to nearly zero.
“If it does carry through to proposed legislation ... that’s when I think you would begin to see the market reaction that would be very negative,” he said. “If we ignore the history around monetary policy independence, then we may be doomed to repeat it.” Albert Brooks Recalls His Comedian Father's Death Onstage: 'They Took Him Backstage and Cut Him Open with a Pen Knife'Charli xcx Responds to Instagram Video Speculating What Plastic Surgery She's Had: 'Obsessed with This'Whether you need prescription glasses or cool shades, this EyeBuyDirect sale lets you find the right frames at the right price.
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