When discussing the ongoing political pressure from the White House on the Federal Reserve, Yellen stated that Trump has been "exploring every possible avenue" to "compel the Federal Reserve to act according to his wishes." On Tuesday, prosecutors from the office of U.S. Attorney Jeanine Pirro conducted a surprise visit to the Federal Reserve headquarters regarding a renovation project. Trump had previously alleged that the project exceeded its budget. Trump has launched an aggressive campaign targeting senior Federal Reserve officials—including Chair Powell, whose term expires in May—aiming to pressure the central bank into lowering interest rates. This action has sparked political backlash and legal challenges. "I have never before seen the Federal Reserve face this level of threat," said Yellen, who served as Fed Chair from 2014 to 2018. Yellen also commented that Kevin Warsh, a nominee for Federal Reserve Chair, lacks "credibility" in his advocacy for interest rate cuts.
- Like
- Comment
- Favorite
Yellen Claims Trump Has Explored "Every Possible Avenue" to Influence Federal Reserve Actions
Deep News12:45
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Like
Report
Login to post
No comments yet