Bernanke, Yellen: Trump’s Fed pressure could fuel inflation
UNITED STATES, JUL 21 – President Trump repeatedly demanded a 1% interest rate cut, accusing the Federal Reserve of keeping rates artificially high and risking higher mortgage costs, according to multiple sources.
- In Washington, President Donald Trump has publicly criticized Federal Reserve Chairman Jerome Powell 23 times this year, demanding a 1% rate cut and escalating pressure on the Fed.
- Amid escalating Fed pressure, Betsey Stevenson issued a stark warning about ending the Federal Reserve's independence, noting mortgage rates could rise significantly.
- Trump used personal insults such as 'a complete moron', with criticism eight times in June highlighting intense pressure on Powell.
- Facing calls for his resignation, Janet Yellen defended Powell against criticism, stating `I think Chair Powell is completely committed to the Fed’s independence`.
- Despite a strong flow of positive data, noting limited market impact and highlighting speculations that Powell could be ousted, markets remain cautious.
8 Articles
8 Articles


Janet Yellen salutes Powell being ‘completely committed to the Fed’s independence’
Former Treasury Secretary Janet Yellen defended Federal Reserve Chairman Jerome Powell against calls for his resignation. President Donald Trump has floated replacing Powell, 72, who was nominated by Trump during his first term in 2018, with current Treasury Secretary Scott…
Former Fed Chair Janet Yellen: Markets rely on the independence of the Fed
Former Treasury Secretary and former Fed Chair Janet Yellen joins 'Squawk Box' to discuss the importance of maintaining Fed independence, what the firing of Fed Chair Powell would mean for the markets, candidates for the next Fed Chair, her thoughts on Treasury Secretary Scott Bessent, state of the economy, her thoughts on crypto, and more.
Obama-Era Economic Advisor Warns Ending Fed Independence Could Lead to 'Higher' Mortgage Rates: How High? — 'That Depends On...'
University of Michigan economist and former Obama White House advisor Betsey Stevenson issued a stark warning about the consequences of ending the Federal Reserve's independence.
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