The matter of central bank independence

Marketplace All-in-One

Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 22 July 2025

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

President Donald Trump has repeatedly attacked Federal Reserve Chair Jerome Powell for not lowering interest rates. But lowering interest rates at the wrong time can spark inflation, which is a burden on working-class families. Today, we'll discuss accountability, independence, and the Fed with Karen Petrou, financial analyst and co-founder of Federal Financial Analytics. And later: Tariffs are straining the relationship between the U.S. and Canada, and they're starting to impact border town tourism.

Transcript

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1:01.2	Is there a case for rethinking how central bankers manage the economy? I'm David Brancaccio in Los Angeles.
1:09.2	One of the Trump administration's point people on hassling the chair of the Federal Reserve in the name of lower interest rates has been Bill Pulte. Trump's chief of the Federal Housing Finance Agency, among Pulte's views, his claim that Jerome Powell is considering resigning. Now, Powell spoke this morning and did not resign. Meanwhile, Democratic Senator Elizabeth
1:29.3	Warren, ranking member of the Senate Banking Committee, issued a letter calling out Pulte for
1:34.2	spending time posting or reposting more than 100 items about Powell this month alone. Warren
1:40.2	calls this abnormal behavior and urge Pulte to release his schedule to show if he's doing his job overseeing federally backed mortgages and housing.
1:49.1	Trolling and counter-trolling aside, there is the matter of the independence of America's Central Bank.
1:54.8	Karen Petru, co-founder of federal financial analytics in Washington, is a longtime Fed Watcher.
2:00.0	Morning, Karen.
2:00.9	Morning.
2:01.7	Are you into this pressure by the president and his men to browbeat the head of the Fed into lowering
2:06.3	interest rates under penalty of the man's job?
2:09.2	No. We can talk about interest rates, but putting Jay Powell's job on the line over monetary
	...

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