Inflation is top of mind for voters heading into 2024’s election. That could make the Federal Reserve subject to pressure from politicians. The Fed has held interest rates at restrictive levels as incumbent President Joe Biden touts his economic performance. During his time in office former President Donald Trump criticized the Fed for restricting economic growth. This puts the Fed in an uncomfortably political position as it attempts to bring annual inflation closer to its target of 2%.
Chapters:
0:00-01:30 Cold Open
01:30-04:00 Chapter 1 – The Fed’s independence
04:00-06:48 Chapter 2 – Political Pressure
06:48-09:57 Chapter 3 – The 2024 election
Produced and Edited by: Carlos Waters
Supervising Producer: Lindsey Jacobson
Animation: Mallory Brangan
Editorial Support: Jeff Morganteen
Additional Footage: Getty Images, Richard Nixon Presidential Library, University of Virginia, White House
Additional Sources: Bureau of Economic Analysis, Federal Reserve Bank of Richmond, Federal Reserve Bank of San Francisco, Federal Reserve Bank of St. Louis, National Archives, University of California Santa Barbara, University of Virginia, U.S. Senate Committee On Banking, Housing and Urban Affairs
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How Presidential Elections Influence The Federal Reserve
