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 policies — a view that runs counter to decades of economic research suggesting that politically independent central banks are essential to controlling inflation and maintaining confidence in the global financial...
FILE - Republican vice presidential nominee Sen. JD Vance, R-Ohio, speaks at a campaign event at Wollard International, Aug. 7, 2024, in Eau Claire, Wis.
Economists have long stressed that a Fed that is legally independent from elected officials is vital because politicians would almost always prefer for the central bank to keep interest rates low to juice the economy — even at the risk of igniting inflation.
On Saturday, Vice President Kamala Harris said she couldn’t “disagree more strongly” with Trump’s view.
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