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Benzinga
Benzinga
Business
Namrata Sen

Former Fed Chairs Ben Bernanke, Janet Yellen Warn Trump's Pressure On Powell Could Lead To 'Inevitably Higher Inflation And Economic Damage'

Donald Trump Janet Yellen Ben Bernanke Jerome Powell US Federal Reserve Inflation Federal Reserve Economy
Philadelphia,,Pa,Usa,,July,30,,2024,-,Treasury,Secretary,Yellen

Former Federal Reserve Chairs Ben Bernanke and Janet Yellen have cautioned that President Donald Trump‘s ongoing pressure on the current Fed chief, Jerome Powell, could have dire long-term consequences for the U.S. economy.

What Happened: Bernanke and Yellen, in an op-ed published by The New York Times on Monday, emphasized the importance of maintaining the central bank’s independence. They urged Trump to select a successor for Powell who would continue to uphold this independence.

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