Biden advisor: If the Trump administration intervenes in the Federal Reserve's interest rate policy, it may trigger a rebound in inflation

2025-01-17 11:03:41

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ChainCatcher news, according to Jinshi reports, Jared Bernstein, chairman of the Biden Economic Advisory Council, warned before leaving office that if the Trump administration intervenes in the Federal Reserve's interest rate policy-making, it could trigger a rebound in inflation.

On the same day, Trump’s Treasury Secretary nominee Scott Bessent promised to uphold the independence of the Federal Reserve during his confirmation hearing in Congress, emphasizing that the FOMC should maintain independence in monetary policy decisions.

Bernstein analyzed that the large-scale tariffs, tax cuts for the wealthy, and the expulsion of undocumented immigrants proposed by Trump would all drive up prices, and further undermining the independence of the Federal Reserve would exacerbate inflation risks.

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