How Presidential Elections Influence The Federal Reserve

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