JD Vance, the Republican vice presidential nominee, endorsed former President Donald Trump's view that the White House should have more say over the Federal Reserve's monetary policy decisions. Most economists agree that an independent central bank is vital to controlling inflation and maintaining stability in financial markets. Politicians often want lower rates to boost the economy, risking higher inflation. Trump appointed Jerome Powell as Fed Chair in 2018 but soon criticized him for raising interest rates, calling him “my biggest threat.”
