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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.
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  • 63% of the sources are Center
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The Hill broke the news in Washington, United States on Monday, July 21, 2025.
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